MORRISVILLE, N.C., May 26, 2022 /PRNewswire/ — CTI Towers, Inc. (“CTI Towers”), a leading owner and manager of wireless towers, today announced the completion of its acquisition of SCI Towers, LLC. (“SCI Towers”), an independent communications tower developer with whom it had a joint venture partnership since 2016.
A portfolio company of Palistar Capital LP (“Palistar”), an alternative asset manager focused on telecommunications infrastructure investments, CTI Towers owns and manages nearly 1,200 towers in 47 states. Lessors of the company’s assets include AT&T, DISH, T-Mobile and Verizon, among others.
SCI Towers, a communications tower developer, was founded in 2011 and has been involved in multiple tower builds since inception, specifically in the Southeastern United States. The company provided tower build solutions for the needs of customers such as AT&T, T-Mobile and Verizon.
“With this acquisition of SCI Towers, CTI Towers will be adding a significant number of recently-built towers as well as sites in development to its present portfolio” said David Bacino, CEO at CTI Towers.
“We appreciate the mutually beneficial relationship we shared with the CTI Towers team, over these last six years, in partnering with us to build towers for the benefit of the wireless carrier community. We wish CTI Towers the greatest success going forward” commented Dave Herring, co-founder of SCI Towers.