The news builds on the joint venture partnership between the two which has been in place since 2016.
"With this acquisition of SCI Towers, CTI Towers will be adding a significant number of recently-built towers as well as sites in development to its present portfolio" said David Bacino, CEO at CTI Towers.
CTI Towers is a portfolio company of Palistar Capita, an alternative asset manager focused on telecoms infrastructure investments, which owns and manages nearly 1,200 towers across 47 US states. Lessors of the company's assets include AT&T, DISH, T-Mobile and Verizon.
"We appreciate the mutually beneficial relationship we shared with the CTI Towers team, over these last six years, in partnering with us to build towers for the benefit of the wireless carrier community. We wish CTI Towers the greatest success going forward," said Dave Herring, co-founder of SCI Towers.
SCI Towers has been involved in multiple tower builds since inception, specifically in Southeastern US. The company provided tower build solutions for the likes of AT&T, T-Mobile and Verizon.
Earlier this year, CTI Towers appointed a new CFO following the departure of Shane Ward. Tammy Wolfe took on the role effective of 17 January 2022.
In related news, December saw Bacino named as its interim CEO, as founder and CEO Tony Peduto retired.
