Tarpon Towers, a Bradenton based firm that builds and buys cell phone towers, has secured $100 million in private equity and bank financing to aid its expansion. The firm created Tarpon Towers II, a joint venture that consists of $60 million from Baltimore-based Redwood Capital Investments and a $40 million loan from a regional bank. The capital will be used “to acquire and build wireless communications towers and other wireless infrastructure.” The firm will also use the funds for build-to-suit agreements with national and regional wireless companies.
“We are excited about partnering with Redwood Capital and continuing to invest in U.S. based assets,” Tarpon CEO Ronald Bizick says in the statement. “With Redwood Capital, we have found a partner that is committed to investing over a much longer period than traditional equity sources and has the capability and appetite to invest significantly more than the initial capital commitment.”
