Phoenix Tower International (PTI), headquartered in Boca Raton, FL, announced the signing of a definitive agreement with Netherlands-based NOVEC BV to acquire NOVEC GmbH, NOVEC’s German subsidiary. NOVEC GmbH currently operates 220 telecommunications sites and has a build-to-suit pipeline to support new infrastructure deployments for mobile network operators in Germany.
This acquisition is a strategic milestone for PTI as it enters the German telecom market for the first time. The deal marks PTI’s entrance into its sixth European market, adding to its European portfolio in Cyprus, France, Ireland, Italy, and Malta where it operates a total of 7,696 towers, not counting the NOVEC GmbH acquisition.
The company says that NOVEC GmbH makes a good fit with a proven track record in telecommunications site deployment. By leveraging NOVEC’s local market knowledge and expertise, PTI aims to enhance its service offerings, streamline operations, and customer service.
“Germany is a major global market with significant near-term wireless build out needs, especially across more rural locations where no coverage exists today and where the NOVEC team specializes in coverage solutions,” emphasizes Dagan Kasavana, PTI CEO.
Gertjan Hoefman, CEO NOVEC, comments, “NOVEC is pleased to announce that we have found in PTI a strong strategic investor that can support NOVEC GmbH in its further growth ambitions in Germany.”
Terms of the deal were not disclosed. The transaction is subject to customary regulatory approvals and is expected to be completed in the next several months.
By John Celentano, Inside Towers Business Editor
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