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Over 500 wireless towers across the country will be under new management following a major deal involving CTI Towers, a prominent owner and manager of wireless towers throughout the U.S., and Conterra Ultra Broadband Holdings, a leading broadband provider.
The acquisition rights for the towers, located in Louisiana, Texas, North Carolina, South Carolina, and California, was announced by the company Dec. 5 in a release provided to the media.
With the move, CTI Towers — which owns assets in 48 out of 50 American states — builds on recent momentum the company generated last year, which saw CTI Towers acquire 180 towers across 14 states from Uniti Group, the company’s release stated.
“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.”
In total, CTI Towers said they now owns or manage more than 1,800 towers across the country. The company said the latest tower acquisitions are intended to increase the company’s geographical footprint in Texas, parts of Virginia, North Carolina, South Carolina, and California.
Craig Gunderson, the president and CEO of Conterra Networks, took time to praise CTI Towers in comments included with the Dec. 5 release.
“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,” Gunderson said.
A summary of CTI Towers’ activities included in the release described the company as “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,” the company’s announcement said.
