Wednesday, October 9, 2013

CTI Towers Raises $30 Million Debt Financing for Tower Acquisitions

CTI Towers, a wireless tower operator with more than 800 wireless towers throughout the United States, secured up to $30 million in debt financing and closed its first third-party acquisition, purchasing five towers from a major wireless carrier.

CTI Towers said the deal extends its strategy beyond Comcast, from whom it has acquired 230 towers to-date.

“We remain committed to helping our customers meet deadlines for new cell sites and network deployment,” said Tony Peduto, Chief Executive Officer, CTI Towers. “We will continue to seek strategic acquisitions to fuel growth as the wireless industry responds to the demand for wireless broadband services.”

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