The acquisition by Everest Infrastructure Partners, which is a privately-owned operator of communications infrastructure assets including wireless communications towers, rooftop locations, tower ground leases, and indoor wireless systems, includes towers located in 17 states throughout the US, with significant tower concentrations in Connecticut, New York and California.
“Everest is pleased to have been selected by Frontier to acquire these high-quality tower assets in attractive markets. We anticipate this to be one of the largest tower acquisitions completed in 2019 and provides us with the scale to better serve our customers,” said Mike Mackey, president of Everest Infrastructure Partners. “We look forward to providing our customers, as well as Frontier, with best-in-class service at these locations.”
The Frontier towers include numerous valuable locations in terrain and zoning-challenged environments. The towers are also adjacent to Frontier’s central office (CO) facilities in many locations, providing easy access to transport services. “These sites have substantial capacity for additional tenants and are in optimal locations for the anticipated demands of 5G services. Many of these COs are centrally located in major urban markets in the Northeast, as well as small and medium-sized communities on the West Coast,” said Mackey. “The towers offer easy access to high-quality backhaul through Frontier, in areas with few alternatives for additional macro site installations.”
Jim Campbell, group vice president, facilities and real estate services for Frontier, added: “The Everest team was tremendous to work with throughout this complex transaction. They demonstrated a high level of capability and service and we believe they will continue to provide exceptional infrastructure leasing services to our collective customers going forward.”
This is the eighth tower portfolio acquisition completed by Everest in the past two years. The transaction increases its current portfolio to nearly 300 tower sites in more than 40 states and makes Everest one of the largest private tower companies in the US.
“The acquisition of towers and carrier customers from Frontier is a substantial increase in our footprint of tower locations as well as our customer activity with all of the national wireless operators,” said Matt Newton, CEO of Everest. “We are seeing tremendous growth across our tower portfolio as mobile operators continue to densify their networks and plan for new advanced services such as 5G. The portfolio of towers acquired from Frontier will add substantial value to our customers in these markets.”
“We work to meet the demands of all wireless service providers, specializing in the development of new towers in tough permitting and construction environments,” said Chris Davis, president of US towers for Everest Infrastructure Partners. “The tower assets acquired from Frontier are a tremendous complement to our existing portfolio. We are positioned to offer national and regional mobile carriers, government entities, utilities and other wireless users high-quality tower sites coast to coast, and to develop new sites when suitable infrastructure does not exist.”
