BOCA RATON, Fla. – Phoenix Tower International ("PTI") announces that it has closed the transaction through the acquisition of a 100% ownership interest in Tower Ventures Holdings, LLC and related entities. The transaction provides PTI ownership and control over high quality wireless telecommunications infrastructure assets strategically located along the Atlantic seaboard, South, and Midwestern regions of the United States. The ownership of these 197 wireless communication towers further solidifies PTI's position as the premiere private tower company in the Americas. Terms of the transaction remain confidential between the parties.
"PTI is excited to invest further in the United States and continue to grow its tower portfolio in advance of significant 5G deployments and ongoing 4G densification across the country," stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International. He continued, "The Tower Ventures team has a great reputation and has constructed and operated high quality sites that we believe will see continued growth through lease-up and provide the wireless operators more best in class locations to achieve their network coverage needs alongside our existing towers and growing DAS and small cell business. We are proud we have completed this transaction with Tower Ventures and look forward to working with them across the United States in the future."
Commenting on the transaction, Tower Ventures President and CEO, William Orgel, said; "Dagan and the wonderful team he has built in the past seven years were an absolute pleasure to work with on this transaction. They are professional, intelligent and have immense knowledge of the tower industry. Tower Ventures looks forward to a continued relationship with PTI as we move forward in developing more towers and managing our remaining portfolio of owned and managed sites."