Wireless Industry News » Well-capitalized Tower Companies Look to Strong New Year
If you use the flow of capital as a barometer, 2014 will be another good year for small cell tower companies. Reporting a backlog of tower work, these firms are hungry for cash to build more towers. Small tower companies are also capitalizing so they can aggregate more towers.
In December, Bankers South provided $10 Million of debt capital to Bay Communications II, which develops, constructs and operates cell phone towers in the northeastern United States. Bay Communications II is also backed by equity partner Seaport Capital, which initially invested in the company in 2011.
“Closing a debt facility with Bankers South will help allow the company to execute on its strategic and tower development objectives. Jim Riley, CEO of Bay Communications, said. “The company has a significant pipeline of tower development opportunities and I am pleased that we identified a financing partner who is going to help it achieve its goals.” Read the full article