CTI Towers, Inc. announced yesterday that telecommunications industry veteran David Bacino, an Operating Partner at Melody Investment Advisors LP, has been appointed Interim CEO. Bacino succeeds Tony Peduto, who will retire effective January 1, 2022. Peduto will remain an advisor to the company.
Cary, NC-based CTI Towers, a portfolio company of Melody Investment Advisors, owns and manages approximately 1,150 towers in 47 states. Lessors of CTI Towers assets include carriers AT&T, DISH, T-Mobile and Verizon.
“My vision when I founded CTI Towers more than a decade ago was to create a leading wireless tower company that would own and operate assets for the long haul,” Peduto said. “Today’s team is strong and deep, and with David’s leadership and the Melody team’s backing, the company is well positioned for the future with excellent development prospects and the ability to continue to provide best-in-class service to our partners across the U.S.”
Bacino has over 30 years of managerial and operating experience in the telecommunications industry. Prior to becoming an Operating Partner at Melody, he was the President of Melody Wireless Infrastructure which was sold to Sculptor Real Estate and Diamond Communications in May 2020. Earlier in his career he held senior roles at American Tower, Powerwave Technologies, and Nextel Communications.
“Under Tony’s leadership and vision, CTI Towers has built a solid foundation for continued expansion and we thank him for his many contributions to the success of the company,” Bacino said. “With the tailwinds created by 5G and the increased need for network densification, we are excited about the opportunities we see to grow our cell tower footprint to the benefit of our clients.”
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