Everest Infra, TowerCo Acquire 546 Wireless Towers from Charter

Everest Infrastructure Partners, Inc. and TowerCo have jointly announced the acquisition of 546 wireless towers from cable company Charter Communications, Inc.

Financial terms of the deal were not disclosed.

The transaction, which is one of the largest domestic tower deals to be announced in the last decade in the U.S. according to the companies, will be completed over multiple closings starting in December 2023.

The wireless tower assets are located in 37 states throughout the U.S.

Charter is a connectivity company that runs broadband networks and serves more than 32 million customers in 41 states. The company will receive existing and future tower-use rights across the tower portfolios of Everest and TowerCo.

“We believe these tower assets are high-quality complements to our existing portfolios and we look forward to expanding the network coverage of our customers with increased leasing activities in the future,” said Mike Mackey, Everest president.

The U.S. cell tower industry has been the scene of plenty of activity of late. In 2022, CTI Towers bought towers from both SCI Towers and Uniti Group, while Boldyn Networks bought towers from Mobilitie in 2021. Earlier this year Everest Infrastructure Partners announced the purchase of cell towers from Communications Tower Group across 10 states.

Everest owns more than 2,500 tower sites across the US, Australia, New Zealand and Portugal. TowerCo, meanwhile, counts over 1,300 owned and managed towers.

Peppertree Capital Management, a private equity firm focused on investments in communication infrastructure companies, backed Everest and TowerCo’s transaction with Charter.