North Carolina-based CTI Towers, a provider of wireless towers in the US and a portfolio company of Palistar Capital (Palistar), announced this week the acquisition of 56 towers in North Dakota from SRT Communications (SRT). This acquisition significantly expands CTI Towers' footprint in the region. SRT Communications, headquartered in Minot, North Dakota, is the state's largest telecommunications cooperative.
Also Read: Everest and TowerCo Acquire 546 Wireless Towers From Charter Communications
Rural 5G Access
"We are excited to announce this transaction, which will provide crucial 5G access to end users in a rural area," said CTI Towers. "As we continue to expand our portfolio of wireless infrastructure assets, CTI is proud to share that we now own and manage over 1,800 towers throughout the US."
In response to the transaction, SRT commented, "CTI Towers is one of the premier tower companies in the US, and we are pleased to partner on this transaction with David and his team."
Growing Portfolio
As reported by TelecomTalk in December 2023, CTI Towers acquired rights for 525 towers located in Louisiana, Texas, North Carolina, South Carolina, and California from Conterra Ultra Broadband Holdings, an independent fiber bandwidth provider in the US.
Also Read: CTI Towers Acquires 525 Towers from Conterra Networks
In November 2022, CTI Towers expanded its portfolio by acquiring 180 towers across 14 states in the US from Uniti Group. In May of the same year, CTI Towers confirmed the completion of its acquisition of SCI Towers, an independent communications tower developer with whom it had a joint venture partnership since 2016. SCI Towers provided tower build solutions for customers such as AT&T, T-Mobile, and Verizon.
