NEW YORK, July 30 /PRNewswire/ -- Charterhouse Group, Inc. ("Charterhouse") today announced a definitive agreement to sell NewPath Networks, Inc. ("NewPath" or the "Company"), a leading developer and operator of distributed antenna system ("DAS") networks, to a subsidiary of Crown Castle International Corp. ("Crown") (NYSE: CCI) in a transaction valued at $115 million. NewPath was the eleventh platform investment made from the Charterhouse Equity Partners IV fund. The transaction follows a period of significant growth for NewPath under Charterhouse ownership. Bill Marraccini, a serial Charterhouse Entrepreneur, introduced the firm to this investment opportunity in early 2009 on a proprietary basis and Charterhouse was able to quickly complete the investment during a period when the financial markets were unsettled. Thomas C. Dircks, Managing Partner at Charterhouse, said, "Our strategy is to partner with Charterhouse Entrepreneurs to identify and invest in opportunities in emerging business services sub-sectors, and then work with talented management teams to support profitable value creation. This is the second time we have executed this strategy with Bill Marraccini, who founded and introduced us to the extremely successful AAT Communications (CEP III) investment in 1997. Bill's investment touch and thoughtful leadership as Chairman of NewPath were instrumental in achieving this very successful outcome for Charterhouse and our partners." Bill Marraccini commented, "The strategic and financial support of the Charterhouse team and Meritage, which invested alongside Charterhouse, put NewPath in a great position to take advantage of the explosive growth in DAS networks as a preferred solution to meeting the phenomenal growth in wireless applications and demand. I would like to thank Mike Kavanagh, NewPath's CEO, and his team for all the hard work and dedication they exhibited in taking NewPath from an early stage business to a recognized leader. We have confidence that the NewPath team, combined with Crown's own experience in the DAS field, positions Crown to be the premier owner and provider of DAS solutions." The transaction is expected to close in approximately 60 days, subject to customary closing conditions. The Company was advised by Citigroup Global Markets Inc. and Proskauer Rose LLP.