Big-logo
 

News & Announcements
 

Keep current with all we are doing to distinguish Tarpon Towers from other companies - doing it right the first time and delivering on what we say!

April 21, 2015 Tarpon Towers Secures New Funding

BRADENTON, FL – April 21, 2015 - Tarpon Towers II, LLC, a wireless communications tower company, today announced it has secured over $100 million of new capital to acquire and build wireless communications towers and other wireless infrastructure.  Tarpon II is a newly formed joint venture created by new funding consisting of a $60 million equity commitment from Redwood Capital Investments, LLC, a private investment firm, and Tarpon’s management team. Additionally, Tarpon has obtained a commitment from a regional bank for a $40 million credit facility.

Since 2008, Tarpon has built and acquired numerous wireless tower sites throughout the U.S.  Tarpon II plans to utilize the new capital to acquire existing towers and build new towers by partnering with local tower developers as well as through entering into build-to-suit agreements with national and regional communications carriers. Tarpon II will also selectively invest in other wireless infrastructure assets.

"We are excited about partnering with Redwood Capital and continuing to invest in U.S. based assets. 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," said Ronald Bizick, Tarpon’s CEO.  "Redwood’s backing will enable us to compete more aggressively for acquisition and build opportunities and strengthens our leadership team," added President William Freeman.

“This is just the beginning of what we expect to be a long relationship with Tarpon.  Tarpon’s team has generated strong returns for its investors and has demonstrated the ability to successfully grow and operate throughout the business cycle. We view this as an opportunity to partner with a great management team to build a leading wireless infrastructure company,” said David Watson, of Redwood Capital.

About Tarpon Towers II, LLC

Tarpon is a wireless communications infrastructure company focused on the acquisition and development of wireless communication towers. Tarpon’s management team has almost 75 years of aggregate experience in the industry and has combined experience in acquiring over 12,000 sites, raising and investing over $3 billion in capital and building over 3,000 towers. Management has held executive positions at numerous companies in the wireless industry such as Global Signal, SBA Communications, Spectrasite Communications, Crown Castle, Sprint, T-Mobile and Clearwire. For more information, please visit http://www.tarpontowers.com.

About Redwood Capital Investments, LLC

Redwood Capital Investments, LLC manages the capital of a small group of private investors in Baltimore, Maryland.  One of Redwood’s principal objectives is to become long-term partners with management teams and private business owners.  Redwood has a permanent capital base, a creative approach to investing, and the ability to be agile in decision-making.

Contact:
Gail Buteau, Tarpon Towers

941-757-5010 x107

gbuteau@tarpontowers.com