CTI Towers, Inc. (“CTI Towers”), a prominent player in the wireless tower industry and a portfolio company of Palistar Capital LP (“Palistar”), an alternative asset manager specializing in mission-critical communications and digital infrastructure, has unveiled its latest strategic move. The company proudly announces the acquisition of 56 towers in North Dakota from SRT Communications Inc. (“SRT”), the state’s largest telecommunications cooperative. This acquisition marks a significant expansion of CTI Towers’ presence in the region and holds promising prospects for improved 5G access in rural areas.
David Bacino, CEO of CTI Towers, expressed his enthusiasm for the transaction, emphasizing its potential to enhance connectivity in underserved regions: “We are thrilled to unveil this strategic acquisition, one that will play a pivotal role in delivering essential 5G services to rural communities. As we relentlessly expand our portfolio of wireless infrastructure assets, CTI is pleased to announce our ownership and management of over 1,800 towers across the United States.”
Cassidy Hjelmstad, CEO and General Manager of SRT, also shared positive sentiments about the partnership: “CTI Towers has earned its reputation as a premier tower company in the U.S., and we are delighted to collaborate on this transaction with David and his exceptional team.”
This recent acquisition follows CTI Towers’ announcement in December 2023 regarding the acquisition rights for 525 towers situated in Louisiana, Texas, North Carolina, South Carolina, and California. These towers were acquired from Conterra Ultra Broadband Holdings, Inc., a prominent independent fiber bandwidth provider in the United States.