NEWS PROVIDED BY
CTI Towers, Inc.
05 Dec, 2023, 09:00 ET
CHARLOTTE, N.C., Dec. 5, 2023 /PRNewswire/ — CTI Towers, Inc. (“CTI Towers”), a leading owner and manager of wireless towers, today announced the acquisition rights for 525 towers located in Louisiana, Texas, North Carolina, South Carolina and California from Conterra Ultra Broadband Holdings, Inc. (“Conterra Networks”), one the largest independent fiber bandwidth providers in the United States.
With this acquisition, CTI Towers now has over 1800 towers that it owns, manages and/or markets throughout the United States. The acquisition strengthens CTI Towers’ geographical footprint within Texas and in parts of Virginia, North Carolina, South Carolina and California.
CTI Towers is a portfolio company of Palistar Capital LP (“Palistar”), an alternative asset manager focused on mission-critical communications and digital infrastructure. The company leases space on its towers to the major wireless carriers, including AT&T, DISH, T-Mobile and Verizon as well as to broadcasters, utility companies, internet service providers and government entities.
“We are proud to announce this partnership with Conterra Networks, as expanding access to wireless and broadband connectivity across the country is at the core of both of our businesses,” said David Bacino, CEO of CTI Towers. “As we continue to execute upon our expansion strategy, adding towers located in these key areas of the U.S. will allow us to even better serve our carrier clients and their end customers.”
Craig Gunderson, President and CEO of Conterra Networks, stated: “CTI Towers is a proven leader in wireless tower operations, and we are thrilled to have partnered with them on this transaction. Working with their team to lease and sell these towers has increased the value of our business, positioning us well for continued growth.”
One of the largest private U.S. tower companies, with assets in 48 states, CTI Towers has substantially expanded its portfolio over the past year, including its announced acquisition of 180 towers across 14 states from Uniti Group last November.
About CTI Towers
CTI Towers, Inc., based in Cary, NC, is one of the largest private tower companies in the U.S. Founded in 2011 with an investment from Comcast Ventures, the company was acquired by Palistar in 2020. The company owns, manages and/or markets over 1,800 wireless communications towers across the United States and leases space on its towers to the major wireless carriers, including AT&T, DISH, T-Mobile and Verizon, as well as to broadcasters, utility companies, internet service providers and government entities. To learn more about CTI Towers, visit www.ctitowers.com.
About Conterra Networks
Founded in 2001, and now operating 15,000 fiber miles, Conterra Networks is one of the largest remaining independent broadband infrastructure companies in the United States based on its optical fiber and fixed wireless network assets and annual recurring revenues. The company is owned by affiliates of APG and Fiera, along with significant participation by the company’s senior management team. For more information about Conterra Networks, please visit www.conterra.com.
About Palistar Capital
Palistar Capital LP is an alternative asset manager led by Managing Partner and its Founder, Omar Jaffrey, focused on communications infrastructure. The firm seeks to invest through direct asset ownership as well as by developing innovative financing solutions to complex problems for leading global communications companies. To learn more about Palistar, visit www.palistar.com.
Media Contacts
CTI Towers
Lisa Linares
llinares@ctitowers.com
(919) 415-0959
Palistar Capital
Mary Beth Grover / Keely Gispan
ASC Advisors
mbgrover@ascadvisors.com / kgispan@ascadvisors.com
(203) 992-1230
SOURCE CTI Towers, Inc.
