Phoenix Tower Secures Investments from Grain and BlackRock to Continue Expansion

Reported by Srikapardhi March 28th, 2024 at 10:36 am

The investment will support PTI's future growth in providing critical tower infrastructure to new and existing markets around the world, PTI said.

Highlights

PTI secures investment from Grain Management and BlackRock for global expansion.
The company operates over 24,000 telecom towers across 23 countries.
PTI aims to further expand its business with support from new and existing investors.

PTI Secures Investments from Grain and BlackRock to Continue Expansion
Wireless communications infrastructure provider Phoenix Tower International (PTI) announced that Grain Management (Grain) and BlackRock have made an investment in the company, joining Blackstone as investors behind PTI as they seek to further grow and expand the business. The investment will support PTI's future growth in providing critical tower infrastructure to new and existing markets around the world, PTI said on Wednesday.

Also Read: Phoenix Tower International Expands Footprint in France With Acquisition of 1,978 Sites

Phoenix Tower International

Founded in 2013 and headquartered in Florida, PTI claims to be the largest global private tower platform, operating over 24,000 telecom towers across 23 countries in North America, Europe, Latin America, and the Caribbean.

Commenting on the investment, Phoenix Tower International said, "Over the last decade, we've grown exponentially to provide wireless tower infrastructure to communities and countries in need of greater connectivity, and we look forward to growing our impact with the support of our new and existing partners."

Partner Perspectives

"Our partnership with PTI naturally aligns with our investment strategy," said Grain, highlighting the belief in the power of broadband communications to fuel digital transformation and economic growth and to unlock human potential."

Also Read: Phoenix Tower International to Acquire 1,300 Mobile Towers From Liberty Latin America

BlackRock echoed similar sentiments, emphasising PTI's role in delivering wireless connectivity to customers globally. With the support of Grain Management, BlackRock, and existing investors like Blackstone, PTI seeks to further grow and expand the business.

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.