Palistar Capital, a prominent alternative asset manager with a focus on digital infrastructure, has successfully combined its US wireless assets into a unified entity. The newly formed company, Symphony Towers Infrastructure, is set to consolidate the operations of Symphony Wireless and CTI Towers, marking a significant milestone in the telecom tower industry.
What Is Symphony Towers Infrastructure?
Symphony Towers Infrastructure brings together the strengths of two telecom tower companies: Symphony Wireless, which acquires ground leases and easement rights for telecom towers, and CTI Towers, which specializes in managing and leasing telecom tower infrastructure. The combination creates one of the top five telecom infrastructure companies in the United States.
Symphony Wireless and CTI Towers: A Strategic Combination
Founded in 2019, Symphony Wireless focuses on acquiring key ground leases and easement rights for telecom towers, leasing out these assets to various wireless carriers. Meanwhile, CTI Towers, established in 2011 and acquired by Palistar Capital in 2020, manages over 1,800 infrastructure assets across the US. These towers are leased to major wireless carriers, including AT&T, Dish, T-Mobile, and Verizon.
The merger of Symphony Wireless and CTI Towers results in a combined portfolio of approximately 3,000 telecom assets spread across all 50 US states. The move is expected to generate significant operational and business efficiencies, consolidating the management teams and processes of both companies.
Leadership and Vision for the Future
Bernard Borghei, who joined Symphony Wireless in April 2024, will serve as the CEO of Symphony Towers Infrastructure. Borghei’s extensive experience in the telecom tower sector, including his co-founding of Vertical Bridge, one of the largest tower operators in the US, will be instrumental in guiding the company’s growth.
Borghei highlighted that the merger allows Symphony Towers to leverage the scale of its wireless tower portfolio to offer enhanced value and an exceptional operating experience to its customers. The company is also focused on driving further acquisitions of towers, ground leases, and rooftop assets to expand its footprint.
Expansion Beyond the US
While the primary focus is on the US market, Symphony Towers has set its sights on international expansion. Borghei previously expressed interest in exploring opportunities beyond the US, indicating that Symphony Towers Infrastructure could extend its reach to global markets in the future.
Key Data and Facts
- Company Formation: Symphony Towers Infrastructure was formed by merging Symphony Wireless and CTI Towers.
- Assets Managed: The combined company will manage and market approximately 3,000 telecom assets across the United States.
- Major Clients: The towers are leased to prominent wireless carriers like AT&T, Dish, T-Mobile, and Verizon.
- CEO: Bernard Borghei, former co-founder of Vertical Bridge, will lead Symphony Towers Infrastructure.
FAQ Section
1. What is Symphony Towers Infrastructure?
Symphony Towers Infrastructure is a newly formed company that consolidates the assets of Symphony Wireless and CTI Towers, managing approximately 3,000 telecom infrastructure assets across the United States.
2. What does Symphony Wireless do?
Symphony Wireless acquires ground leases and easement rights for telecom towers, leasing these assets to wireless carriers like AT&T, T-Mobile, and Verizon.
3. Who will lead Symphony Towers Infrastructure?
Bernard Borghei, who joined Symphony Wireless in April 2024, will serve as the CEO of Symphony Towers Infrastructure.
4. How many assets will Symphony Towers Infrastructure manage?
The combined entity will manage around 3,000 telecom tower assets across all 50 states in the US.
5. Is Symphony Towers Infrastructure planning to expand internationally?
Yes, Symphony Towers is exploring international expansion beyond the US, aiming to diversify its portfolio globally.
