CTI acquires 4 new towers
CTI Towers Inc. of Franklin purchased four wireless communication towers in Texas and created a new executive position to drive further growth, the company announced Wednesday.
The towers are all located in Amarillo, Texas, and were purchased from California-based NTCH, which does business under the name Clear Talk. This deal comes five months after CTI purchased five towers in the South and Midwest from a major wireless carrier, which was the wireless tower operator’s first third-party acquisition.
“We continue to seek strategic tower assets throughout the United States, with hopes that each acquisition will bring our wireless carrier partners that much closer to achieving the ultimate goal of seamless coverage,” CEO Tony Peduto said in a statement.
CTI has also created a new post of vice president of acquisitions, which will be filled by Joe Ryan, who was previous director of mergers and acquisitions for American Tower, which has more than 6,000 towers across the country.
“CTI’s future looks bright and its existing tower base and acquisition pipeline will serve as the ideal platform for growth,” Ryan said.
CTI has more than 800 wireless towers nationwide. Some 230 of those towers were acquired from Comcast, though the company said it’s looking to expand beyond the Comcast portfolio.
CTI is currently one of America’s top 10 tower operators. The company is expecting to grow to become the first or second largest private tower company in the U.S., according to Peduto.
WBJ Web Partners
Most Recent
Most Recent
0 Comments