Phoenix Tower International (PTI) announced today that it has entered into a contract with T-Mobile to acquire the ownership or management rights to approximately 600 wireless communication tower sites including the exclusive right to manage and operate the sites from T-Mobile via PTI’s local U.S. subsidiaries.
“We are incredibly excited to transact with T-Mobile and believe these locations are well situated for additional lease-up opportunities as the wireless operators continue to expand and improve their networks,” said Dagan Kasavana, Chief Executive Officer of Phoenix Tower International. “The PTI management team has significant experience operating and leasing tower sites in the United States and is thrilled to have a significant portfolio of high quality sites in the United States to offer to our customers. Furthermore, this transaction represents another milestone in Phoenix Tower’s expansion and allows us to service our customer’s strategic needs across the Americas.”
Terms of the transaction remain confidential between the parties. TD Securities (USA) LLC served as M&A Advisor to PTI and provided financing for the transaction. Locke Lord, LLP acted as legal advisor to PTI. TAP Advisors served as exclusive financial advisor to T-Mobile. Lape Mansfield Nakasian & Gibson, LLC acted as legal advisor to T-Mobile.
Kasavana, former senior VP of merger and acquisitions at Global Tower Partners founded PTI in 2013. American Tower completed the acquisition of GTP for $3.3 billion in October 2013. PTI is headquartered in Boca Raton, within sight of GTP’s old location. Kasavana was joined by former GTP executives Tim Culver, senior legal adviser, and Natalya Kashirina, VP of mergers and acquisitions.
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