TowerCo LLC

What TowerCo LLC does

TowerCo LLC is a Cary, North Carolina-based privately held wireless infrastructure company founded in 2004 that develops, acquires, owns, and manages cell towers, land, and rooftop assets across the United States. The company operates an integrated four-pillar service platform: Build-to-Suit (turnkey custom tower construction), Colocation (leasing space on existing towers to multiple tenants), Tower and Ground/Rooftop Lease Acquisitions (purchasing existing assets or future lease streams), and CoDevelopment partnerships (recruiting third-party developers into TowerCo's capital and operations platform). Its portfolio includes monopoles, self-support towers, and a range of stealth/concealed designs (monopines, stealth SST, stealth trees) deployed for zoning-sensitive sites such as municipalities, educational campuses, and scenic areas. TowerCo supports 25,000+ right-of-way miles of corridor access, anchored by a strategic partnership with Norfolk Southern covering 19,300+ miles across 22 states.

The company serves wireless carriers (Verizon, AT&T, T-Mobile, DISH), railroads, utilities, federal agencies (US Forest Service, Bureau of Land Management), and over 500 municipalities, with revenues generated primarily through recurring monthly colocation subscriptions on long-term leases, supplemented by professional services for build-to-suit development and one-time transactional payments for tower and lease acquisitions. Go-to-market is sales-led via six regional sales teams and a national accounts organization, supplemented by a self-service Site Search portal. The company is backed by Peppertree Capital Management as lead equity sponsor and completed a December 2023 joint acquisition with Everest Infrastructure Partners of 546 wireless towers from Charter Communications across 37 states. Leadership includes CEO Todd Boyer (appointed 2018, prior TowerCo sales leader, WIA board member) and a tenured executive team averaging 20+ years of wireless infrastructure experience.

Name

TowerCo LLC

Legal name

TowerCo LLC

Website

https://towerco.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

51–100 employees

Short description

TowerCo LLC is a privately held US wireless infrastructure company that develops, acquires, owns, and manages 15,000+ cell tower, land, and rooftop assets, serving wireless carriers (Verizon, AT&T, T-Mobile, DISH), railroads, utilities, federal agencies, and 500+ municipalities through colocation, build-to-suit, and acquisition services.

Ownership category

akta.pro rank

Product category

Wireless Infrastructure Services

NAICS

Power and Communication Line and Related Structures Construction (237130)

SIC

Real Estate Operators (No Developers) & Lessors (6510), Operative Builders (1531)

akta.pro primary industry

Macro Towers (Ground-Based & Rooftop) (HDAIAKAA)

akta.pro secondary industries

Tower Operations & Maintenance (Field Services) (HDAIAKAF), Telecom Tower & Mast Construction (Greenfield Builds, Foundations, Erection) (IMAFAIAC), Real Estate, Leasing & Colocation Management (Landlords/REITs) (HDAIAKAJ), Tower Upgrades & Structural Reinforcement (Height Extensions, Mods, Mounts) (IMAFAIAD), Structural & Civil Engineering for Sites (Design, Reinforcement, Foundations) (HDAIAKAI), Tower Portfolio Acquisition & Management Platforms (Asset/Lease Management Software) (HDAIAKAL)

Keywords

• Wireless infrastructure services
• Wireless site development
• Tower colocation leasing
• Rights-of-way development
• Wireless asset acquisitions

Headquarters

HQ city

Cary

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Tower Colocation: Leasing space on existing towers to wireless carriers. Revenue generated through monthly or annual colocation fees based on space utilization, antenna placement, and structural requirements. Carriers pay for co-location on existing infrastructure to expand network coverage without building new towers.
2. Build-to-Suit Development: Custom tower development services for wireless carriers including site acquisition, zoning, permitting, construction, and ongoing site management. Turnkey solutions from search ring inception through construction completion.
3. Tower Acquisitions: Acquiring existing cell towers from property owners and developers. Provides immediate capital to sellers through lump sum payments in exchange for tower ownership.
4. Ground/Rooftop Lease Buyouts: One-time lump sum payments to property owners in exchange for assignment of future lease revenues. Provides immediate capital to landowners who prefer upfront payment over long-term lease income.
5. CoDevelopment Partnerships: Collaborative tower development partnerships where TowerCo provides funding, expertise, and back-office support to development partners who source sites and manage local operations.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

TowerCo develops, owns, leases, acquires, and manages wireless communication towers and related land and rooftop assets. It provides turnkey build-to-suit tower construction, colocation on existing towers, property and lease acquisitions, partnership-based development, rights-of-way deployment, and ongoing site management.

Product overview

TowerCo LLC is a wireless infrastructure company operating a multi-service platform for developing, acquiring, owning, and managing wireless communication towers and assets. The company offers a integrated suite of services centered on four core offerings: Build-to-Suit (custom tower construction), Colocation (shared tower space leasing), Tower Acquisitions (purchasing existing towers), and CoDevelopment (partnership-based development). Supporting these are Ground/Rooftop Lease Acquisitions (lease buyout programs), a Site Search self-service tool with downloadable application documents, Rights-of-Way development services, and comprehensive Property Management. The company manages a diverse portfolio of tower structure types (monopoles, self-support towers, concealed/stealth designs) organized across regional portfolios nationwide.

Differentiator

Problem solved

Functional benefit

Brands

• CoDevelopment: Collaborative approach TowerCo takes when working with partners to design, fund, and build wireless infrastructure.

Products and services

• Build-to-Suit Custom tower development for wireless carriers, government agencies, or private businesses, delivered from site acquisition and search-ring inception through design, construction, and ongoing site management.
• Colocation Leasing antenna and equipment space on TowerCo's existing towers to wireless carriers that want to expand network coverage without constructing a new tower.
• Tower Acquisitions Acquisition of existing cell towers from developers and private landlords to expand TowerCo's portfolio while providing sellers a transaction for their wireless communication assets.
• Ground/Rooftop Lease Acquisitions Lease-buyout service providing property owners with one-time lump-sum payments in exchange for future ground-lease or rooftop antenna-lease revenues.
• CoDevelopment Partnership-based tower development in which TowerCo works with developers to design, fund, build, and manage wireless infrastructure while providing financial backing and industry expertise.
• Rights-of-Way Wireless Development Wireless infrastructure development along interstate highways, railways, and utility corridors, including feasibility assessment, permitting navigation, and infrastructure deployment.
• Property Management Services Ongoing management of tower assets, contracts, cash flow, data governance, engineering, improvements, and FAA/FCC and other site-compliance requirements.

Quantifiable outcome

• 546 wireless towers acquired from Charter Communications in joint acquisition with Everest Infrastructure Partners in December 2023
• +2 more outcomes

Named customers13 records

Segments6 records

Ideal customer profiles7 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Everest Infrastructure PartnerscoreStrategic or Co-development Partner · 8 December 2023Joint acquisition of 546 wireless towers from Charter Communications in multi-closing transaction starting December 2023. Assets located in 37 states throughout the US representing one of the largest portfolio transactions of tower assets in the past 10 years. Both companies supported by Peppertree Capital Management as lead equity sponsor.
• Charter CommunicationsminorOthers · 8 December 2023Seller of 546 wireless tower assets to joint Everest-TowerCo partnership. Charter will receive existing and future tower-use rights across the new tower portfolios and continues as Preferred Fiber Provider to applicable tower sites.
• Norfolk Southern CorporationcoreStrategic or Co-development Partner · 23 May 2022Strategic partnership to expand market opportunities for wireless infrastructure development along Norfolk Southern's rights-of-way and industrial real estate parcels. Norfolk Southern's service area covers more than 19,300 miles of track in 22 states and the District of Columbia. Norfolk Southern reserves space on towers for their own communications equipment to enhance signaling and two-way communications infrastructure. TowerCo gains exclusive access to desirable real estate along railroad corridors for carrier network deployment.
• US Forest ServicesminorStrategic or Co-development PartnerFederal agency partnership for deployment of wireless infrastructure on US Forest Service lands, enabling network coverage expansion in national forest and wilderness areas.
• Bureau of Land ManagementminorStrategic or Co-development PartnerFederal agency partnership for deployment of wireless infrastructure on BLM-managed lands, enabling network coverage expansion across western US public lands.
• NC RailroadminorStrategic or Co-development PartnerRailroad rights-of-way partnership for wireless infrastructure deployment along North Carolina railroad corridors.
• Detroit EdisonminorStrategic or Co-development PartnerUtility company partnership for wireless infrastructure deployment on utility-owned properties in Michigan service area.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Everest Infrastructure Partners: Privately held tower operator that partnered with TowerCo on the 546-tower Charter acquisition (Dec 2023). Closest comparable in size, business model, and PE-backed structure (also Peppertree-sponsored).
• InSite Wireless Group: Private US tower company building, owning, and operating towers and DAS networks. Overlaps with TowerCo on macro tower development, rooftop/DAS, and rights-of-way sites.
• Phoenix Tower International: Private tower owner/operator with US and Latin American sites. Competes with TowerCo on macro-tower builds, colocation, and site acquisition for Tier-1 carriers.
• Tarpon Towers: Privately held US tower operator focused on build-to-suit and acquisitions across the Southeast and Texas. Competes head-to-head for carrier build-to-suit assignments and existing tower acquisitions.
• Vertical Bridge: Largest private tower operator in the US with thousands of sites. Direct competitor in build-to-suit, colocation, and acquisitions for the same carrier and municipalities customer base.

Broad incumbents

• Crown Castle: US-focused tower and fiber infra operator with ~40k+ towers. Overlaps with TowerCo on macro tower colocation and build-to-suit for the same Tier-1 carriers, while also operating a fiber/small-cell business that competes for adjacent wireless budgets.
• SBA Communications: Public tower REIT with ~17k+ tower sites domestically. A direct macro-tower competitor serving the same carriers via colocation and build-to-suit, with a similar carrier-concentrated revenue mix.
• American Tower: The largest publicly traded global tower operator with ~220k+ sites. Directly comparable business model (macro tower colocation + build-to-suit) but operates at substantially greater scale and as a REIT, giving it a structural cost-of-capital advantage versus TowerCo.

Emerging players

• Helios Towers: Public tower operator primarily in Africa and the Middle East but expanding into other markets. Useful benchmark for tower-company economics, though not a direct US competitor today.

Others

• Peppertree Capital Management: Lead equity sponsor of TowerCo and Everest Infrastructure Partners. Not a tower operator but a thematic peer for understanding TowerCo's capital base, exit dynamics, and broader communications-infrastructure investment thesis.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/towerco
• Facebookfacebook.com/towerco
• LinkedInlinkedin.com/company/towerco

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TowerCo LLC