CTI Towers names David Bacino interim CEO

CTI Towers names David Bacino interim CEO

02 December 2021 | Natalie Bannerman

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CTI Towers, a provider of wireless towers in the US, has named telecoms industry veteran David Bacino, as its interim CEO.

Bacino, who also serves as an operating partner at Melody Investment Advisors LP (Melody), succeeds Tony Peduto, who will retire on January 1 2022. Peduto will remain an advisor to CTI Towers.

"Under Tony's leadership and vision, CTI Towers has built a solid foundation for continued expansion and we thank him for his many contributions to the success of the company," said Bacino.

"With the tailwinds created by 5G and the increased need for network densification, we are excited about the opportunities we see to grow our cell tower footprint to the benefit of our clients."

Founded by Peduto in 2011, CTI Towers owns and manages approximately 1,150 towers in 47 states across the US. The company lessors include wireless carriers AT&T, DISH, T-Mobile and Verizon, to name a few.

CTI Towers has been a portfolio company of Melody Investment Advisors, an alternative asset manager focused on telecoms infrastructure investments, since 2020.

"My vision when I founded CTI Towers more than a decade ago was to create a leading wireless tower company that would own and operate assets for the long haul," said Peduto.

"Today's team is strong and deep, and with David's leadership and the Melody team's backing, the company is well positioned for the future with excellent development prospects and the ability to continue to provide best-in-class service to our partners across the US."

Bacino enters the role witj over 30 years of managerial and operating experience in the telecoms industry.

Prior to joining Melody as operating partner, Bacino served as president of Melody Wireless Infrastructure, privately-owned tower company in the US, which was sold to Sculptor Real Estate and Diamond Communications in May 2020.

Before this he held senior roles at American Tower, Powerwave Technologies, and Nextel Communications.