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.
About CTI Towers
CTI Towers, Inc., based in Morrisville, 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 operates over 1,200 wireless communications towers across 47 states in the continental US and leases tower space to major wireless carriers, which include AT&T, DISH, T-Mobile and Verizon as well as broadcasters, utility companies, internet service providers and government entities.
To learn more about CTI Towers, visit www.ctitowers.com.
About SCI Towers
SCI Towers, Inc. is an independent communication tower developer that provides unique solutions in the development of wireless infrastructure. Founded by Dave Herring and Lee Chapman in 2011, SCI Towers was formed as the tower development subsidiary of Site Concepts, Inc., a site acquisition, zoning, and construction management consulting firm in South Florida. SCI Towers customers include AT&T, Verizon, T-Mobile and others. The company has been involved in thousands of site deployments in the U.S.
About Palistar Capital
Palistar Capital LP is an alternative asset manager led by Managing Partner and sole 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.
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SOURCE CTI Towers, Inc.