Diamond Getting Bigger, but Staying Nimble

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Diamond Communications is currently integrating the Melody Wireless acquisition (now called Diamond Infrastructure), which has almost doubled its size to more than 4,000 tenanted sites. Diamond is the second largest privately held wireless infrastructure company in the United States and the fifth largest overall.

The transaction is a game changer for Diamond. The Melody Wireless assets are located in all 50 states, with a much higher than average proportion in metro markets, which positions the portfolio well for 5G growth. Diamond has salespeople in place across the country who are already marketing the newly acquired sites.

“The strategic rationale for the transaction and our continued growth is to better serve our carrier customers with more inventory and our site management clients with more capabilities,” Diamond CEO Ed Farscht told Inside Towers. “Now, more than ever, we have an enhanced ability to address all of our customers’ wireless infrastructure needs, whether it’s wireless communications towers, rooftop sites, utility assets, ground leases, indoor DAS, outdoor DAS, small cells, fiber or home connectivity. In addition, Diamond partners with other third-party tower developers to provide flexible financing to build towers and DAS systems.”

Although the Melody acquisition significantly increased Diamond’s size, the company already had a history of growing through acquisitions, as well as being one of the larger tower developers in the United States.  Over the past several years, Diamond has closed over 100 transactions ranging from single sites to large portfolios of wireless infrastructure assets. Additionally, Diamond has recently signed agreements increasing its third-party property management business to nearly 300,000 properties.

“The Melody acquisition makes us more meaningful to our customers. We have the personnel and systems already in place and can help the carriers efficiently deploy their networks,” Farscht said. “As a result, it allows Diamond to accelerate our organic growth.”

“We have a lot of tenanted rooftops in our inventory,” Farscht said. “We also manage wireless infrastructure on third-party properties, including utilities, billboards and churches. In addition, a growing part of our business is advising municipalities, property developers and REITs on their wireless plans.”

Diamond has earned the trust of municipalities and property developers, providing a full suite of services including the development of comprehensive wireless master plans. Its approach to providing consulting services to communities, municipalities and government entities involves performing a detailed analysis of the existing infrastructure to determine where infrastructure is needed.

Diamond has grown to a formidable size, but don’t expect it to act like a big company. Diamond’s philosophy is to provide senior-level attention on all engagements. Diamond’s flat management structure enables the company to quickly socialize new ideas and make decisions.

“The way we roll is we’re flexible,” Farscht said. “We’re large enough where we have good mindshare and business with the carriers, but small enough to be nimble.”

For more information about Diamond, visit: https://www.diamondcomm.com/.

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