News

Cary, North Carolina-based TowerCo, which builds infrastructure for wireless services providers, has secured $300 million in funding from Peppertree Capital Management. Alpina Capital LLC was financial adviser on the transaction.

PRESS RELEASE

CARY, N.C., Jan. 15, 2019 /PRNewswire/ — TowerCo is pleased to announce a newly-formed partnership created by members of the TowerCo management team and Peppertree Capital Management (Peppertree). As part of the transaction, TowerCo retained all of its assets and Peppertree committed an additional $300 million of equity capital to fund future growth. The transaction represents Peppertree’s 76th investment in the communications infrastructure industry. In connection with the transaction, the majority of the TowerCo management team will remain in place and Todd Boyer will take over as Chief Executive Officer.

Alpina Capital, LLC, acted as the exclusive financial advisor to the TowerCo V management team in this transaction.

ABOUT TOWERCO:
Founded in 2004 by Richard Byrne & Scot Lloyd, TowerCo has a long track record of success building quality infrastructure for wireless services providers. TowerCo focuses exclusively on the development and management of tower infrastructure in the United States. TowerCo is based in Cary, NC.

ABOUT PEPPERTREE CAPITAL MANAGEMENT:
Peppertree Capital Management, Inc. is a private equity firm focused on making investments in growing communication infrastructure companies, both in the United States and internationally. Peppertree was formed in 2004 and is currently investing out of its seventh private equity fund and an evergreen debt fund. Peppertree has more than $1 billion under management and has made 76 investments in communication infrastructure companies in 10 countries.