Phoenix Tower International has been steadily increasing its portfolio of towers through a series of acquisitions in the United States, the Caribbean and in Latin America. As of today, the company owns and operates over 6,000+ towers, 968km of fiber, and 80,000+ other wireless infrastructure sites in 13 countries with sights set on further expansion.
The Boca Raton, Florida-based company acquired 600 wireless tower sites from Trilogy in Bolivia in February and closed 2018 by adding 80,000 marketable small cell wireless communications sites through the acquisition of Syscom Telecom LLC, a company with unique focus on billboard-mounted wireless sites. The acquisition coincided with news the same day that the company had closed a $200 million loan facility with Goldman Sachs to finance further expansion.
“This latest refinancing gives us a well-capitalized business plan to continue our growth in the United States with a strong lender group” said Dagan Kasavana, Chief Executive Officer of Phoenix Tower International, of the financing. “We see various opportunities to expand in the United States through traditional macro tower construction and acquisitions as well as through small cell deployments to further help our customers grow their networks to meet consumer demands. This facility will allow us to accomplish both initiatives with dedicated financing in place.”
The company’s growth mindset is apparent. During the past year, Phoenix Tower completed four acquisitions aimed at expanding its footprint and portfolio. In October, Phoenix Tower closed its acquisition of 1,039 wireless communications tower sites in the Dominican Republic from Altice Domincana, and 451 wireless communications tower sites in Jamaica from Digicel. In February, the company acquired 215 sites from Digicel in the French West Indies. Last year’s acquisition activity is similar to the company’s pattern over several years of purchasing wireless sites that fit its strategic goals, including the acquisition of 600 U.S. sites from T-Mobile in 2015.
In addition to acquiring sites, the company also expanded its capabilities in 2018 through the purchase of a majority stake in FastSite, a young Costa Rican company specializing in installation and leasing of cellular amplification systems in structures and spaces where installation of cellular towers is challenging, including indoor and outdoor distributed antenna systems. FastSite has ambitions to expand outside of Costa Rica to countries including Panama, the Dominican Republic and Colombia.
Phoenix Tower International has over 160 employees throughout the United States, including Puerto Rico and the US Virgin Islands, Costa Rica, Panama, El Salvador, Guatemala, Colombia, Peru, Mexico, the Dominican Republic, French West Indies, Jamaica, Argentina and Ecuador and has local offices in every market served.
PTI was founded in 2013 by Kasavana, with a mission to be a premier site provider to wireless operators across the Americas in high-growth markets. The company is devoted to helping its wireless infrastructure partners—customers, sellers, landlords, and communities—achieve their goals and demonstrate this mission every day through the fair and collaborative manner they deal with business partners and the dedicated operation of the wireless infrastructure sites they own and operate.
Today PTI remains focused on the stable growth of its wireless infrastructure portfolio – expanding into new international markets as well as further development in the thirteen markets they currently serve.