M/C Partners, a Boston-based communications and technology services-focused private equity firm, this week announced that it has closed on an equity investment in TowerCom, a Jacksonville, FL-based communications tower developer.
M/C’s initial investment and additional future commitment will allow TowerCom to continue to execute on its robust new tower build plan on behalf of national and regional wireless carriers.
As TowerCom’s primary financial investor, M/C Partners will contribute its extensive experience in the communications and technology services markets. M/C has been a leading investor in this sector for more than three decades, having previously invested in Lightower, Zayo, MetroPCS, Connectivity Wireless and others. Legal counsel for M/C Partners was provided by Sidley Austin and Fox Rothschild.
Rad Lovett, Chairman and CEO of TowerCom
As wireless carriers expand their 5G footprints and nationwide coverage with mid and high band spectrum, the industry, and TowerCom, should see strong colocation prospects in the coming years.
