Cell towers and billboards: Landmark Infrastructure LP sets terms for $60 million IPO

Landmark Infrastructure Partners LP, an MLP formed by Landmark Dividend to own cell towers, billboards and leased property, announced terms for its IPO on Wednesday. The El Segundo, CA-based company plans to raise $60 million by offering 3.0 million units at a price range of $19 to $21. At the midpoint of the proposed range, it would command a fully diluted market value of $157 million.

The company counts March IPO CBS Outdoors (CBSO) among its customers.

Landmark Infrastructure Partners LP, which was formed in 2014 and booked $14 million in historical sales for the 12 months ended September 30, 2014, plans to list on the NASDAQ under the symbol LMRK. Baird, Raymond James and RBC Capital Markets are the joint bookrunners on the deal.