Everest Infrastructure Partners has expanded its tower portfolio after completing the acquisition of CNS Microwave (CNS).
The deal includes a portfolio of wireless communication tower assets, from TC Energy Corporation, with Everest adding more than 75 towers to its footprint.
Everest said that the tower sites are spread across six states. Inside Towers reports that those states are Kentucky, Virginia, West Virginia, Ohio, Pennsylvania, and Maryland.
The company said that 83 percent of the towers' rental income comes from AT&T, Verizon, and T-Mobile tenancies.
“This transaction continues to validate Everest’s ability to partner with sellers in adjacent infrastructure verticals that require a trusted partner for operating in and around mission-critical highly secure locations, such as sites located within TC Energy’s critical energy infrastructure facilities,” said Brenton Atcheson, VP of corporate development, Everest Infrastructure Partners.
“We anticipate these sites will provide enhanced value for the growing Everest portfolio and look forward to facilitating our customers’ needs as well as new colocation activities at the CNS tower sites as they are integrated into Everest’s seasoned tower operations and marketing program," added Atcheson.
Founded in 2015, Everest operates more than 2,500 communications tower sites in the United States, Australia, New Zealand, and Portugal.
The company, through its Everest Infrastructure ANZ subsidiary, completed the acquisition of tower assets from Australian telco Vertel last month.
Everest acquired Portuguese tower company Blue Sites Telco last year. It represented the fourth international market that Everest has invested in after the US, where it's based, along with Australia, and New Zealand.
