By Eleanor Snite
The team at Raymond James Investment Banking in St. Petersburg, Florida, specializes in meeting the capital raising and financial advisory needs of companies in telecommunications. That includes tower owners, communications carriers, tower developers, land owners and a variety of support industries involved in operating the network. The full-service financial company specializes in mergers, acquisitions and raising capital and serves as a third-party advisor in developing business strategies. Justin Cadman, vice president, joined Raymond James in 2006. He previously worked in finance for a communications tower company and has many contacts in the communications community. “We’ve built a network of contacts in the industry and have a background in the industry’s business models and technologies,” Cadman said. “We understand the challenges that owners and operators face. We have deep roots in the sector.” Equity Research Analyst Ric Prentiss has more than 15 years of experience in the wireless industry. He helps the rest of the team assist major tower companies and independents to develop their business strategy and match the client’s needs with investors’ appetites. They consult closely and focus on what potential investors are looking for and Inside Towers Page 4 how best to align those interests with the specific needs of Raymond James’ clients.
“We find the best approach to raising capital is presenting the client’s business opportunity in a way that meets the needs of potential investors who are interested in the space,” Cadman said. “The majority of our business is in the communications industry.” Currently, the team is working on raising capital for an independent tower developer in the United States. They recently led an initial public offering for a wireless infrastructure land-lease consolidator. They are also becoming more involved with distributed antenna systems and the fiber industry. “The tower industry has been a phenomenal investment opportunity for the last 15 or 20 years, and it is extremely active,” Cadman said. “Every day we talk to people about various opportunities in the sector.” Raymond James’ communications clients come from all over the United States, Latin American and Europe. Cadman said he is seeing more activity in emerging markets, including Latin America and Africa. “These are exciting times in the tower and wireless infrastructure space,” he said.