Everest and TowerCo Acquire 546 Wireless Towers From Charter Communications

Reported by Srikapardhi December 11th, 2023 at 11:26 am

Acquisition of 546 wireless towers located across 37 US states. This move expands their reach and bolsters their ability to deliver exceptional wireless connectivity solutions.

Highlights

Acquisition strengthens both companies' US tower infrastructure presence.
Boosts network coverage potential and connectivity solutions.
Charter retains access to towers and preferred fiber provider status.

Everest and TowerCo Acquire 546 Wireless Towers From Charter Communications
Tower infrastructure companies Everest Infrastructure Partners (Everest) and TowerCo have jointly announced the acquisition of 546 wireless towers from Charter Communications. The tower infrastructure deal is set to be completed over multiple closings starting this month. Everest stated that the wireless tower assets included in this transaction are located in 37 states throughout the US, collectively representing one of the largest portfolio transactions of tower assets in the US in the past 10 years.

Also Read: Fengate Expands US Wireless Tower Portfolio With TowerCom Acquisition

Charter's Involvement

While the financial terms of the transaction were not disclosed, Charter will receive existing and future tower-use rights across the nationwide tower portfolios of Everest and TowerCo. Additionally, Charter will reportedly continue to serve as the Preferred Fiber Provider for applicable tower sites included in the transaction.

Strategic Benefits

Commenting on the transaction, Everest said, "We believe these tower assets are high-quality complements to our existing portfolios, and we look forward to expanding the network coverage of our customers with increased leasing activities in the future."

Also Read: CTI Towers Acquires 525 Towers from Conterra Networks

TowerCo added, "We are excited to acquire these attractive, strategically located assets while expanding TowerCo's national footprint. We look forward to maximizing the value of these assets, providing exceptional wireless connectivity solutions for our customers, and maintaining a productive relationship with Charter as we assume ownership and operations of the towers."

Also Read: Ooredoo, Zain and TASC Towers to Create Tower Company in MENA Region

Everest and TowerCo

Everest Infrastructure Partners and TowerCo are each supported by the lead equity sponsor, Peppertree Capital Management. Everest Infrastructure Partners owns over 2,500 communication tower sites in the United States, Australia, New Zealand, and Portugal. TowerCo owns, builds, and manages a portfolio of communication towers and properties for colocation, including over 6,000 land and rooftop assets and over 1,300 owned and managed towers.

Reported By

Srikapardhi Telecom Analyst

Passionately following the Indian #Telecom Industry for over a decade from Business, Consumer and a Technical perspective. My primary focus area is Consumer & Digital Experience.