We are pleased to share the sale of a portfolio of wireless communications towers from our client, Inland Cellular Telephone Company, Inc. (including Weis Towers) to Everest Infrastructure Partners. The most recent acquisition closed September 9, 2022.
Located in Roslyn, Washington, Inland Cellular, including Weis Towers (together referred to as Inland or the Company), is a cellular network provider with approximately 36,000 customer subscribers in its service territory of Washington and Idaho. A leader in mobile connectivity, Inland also owns and operates rural cell phone tower assets throughout the northwestern U.S. Inland is committed to having the best trained employees in the mobile industry, a strong and reliable network, industry leading customer service and support, and strong community relationships.
Everest Infrastructure Partners (Everest), utilizing a data-driven approach, has developed one of the largest and most efficient aggregation platforms focused exclusively on Wireless Infrastructure assets. They are a creative and entrepreneurial team operating in multiple countries around the world. The Everest Vision is to embrace technology evolution to deliver exceptional value to their network provider customers, their wireless communications users, and all participants in the growth of mobile infrastructure networks. Operating more than 1,000 communications tower sites in the United States, Australia, and New Zealand, Everest has raised capital commitments of more than $1 billion since its inception in 2015, making it one of the wireless industry’s fastest growing and largest private tower companies.
The acquired towers from Inland Cellular are in high-growth corridors of the Inland Northwest region of northern Idaho and eastern Washington, inter-connecting the towns of Lewiston, Spokane, Moscow, Coeur D’Alene and other surrounding communities. Everest’s Rocky Mountain region continues to be one of its fastest growing regions for new wireless infrastructure.
“We are incredibly pleased to step into the ownership and management of these high-quality communications towers developed by the Inland team. They were a pleasure to work with throughout the process and we look forward to a continued partnership in the years to come,” said Mike Mackey, President of Everest Infrastructure Partners. “The Inland Northwest region includes many high-growth communities where Everest expects to maintain a long-term presence as a leading developer and operator of communications towers.”
Generational Capital Markets’ Sr. Managing Director Mergers & Acquisitions, Tom Staszak, with the support of Vice President M&A, Chris Wolf, successfully closed the deal.
“Inland Cellular and Weis Towers have a strong position in the rural cellular market throughout the Northwestern U.S. They provide an ideal opportunity for Everest to continue its expansion into rural markets while assuring continued excellent service for Inland’s customers,” said Staszak.
If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Technology, Media, & Telecom M&A Deals page.
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