Tarpon Towers LLC, a Bradenton, Florida-based wireless communications tower company, has received a $15m equity commitment from Spire Capital Partners, a private investment fund focused on the communications, business services, information services and media sectors.
As part of the transaction, Andrew J. Armstrong, Jr., Managing Member at Spire Capital, will join Tarpon’s board of directors.
Spire will partner with the company’s existing institutional investor, ABS Capital, which has provided Tarpon with over $50m of equity and also has a $30m facility with a prominent regional bank.
Tarpon owns 85 towers located in 14 states including Florida, North Carolina, Georgia, Mississippi, Texas, Michigan, Connecticut, New York and California.
The company, which has over 200 new build sites in development and 25 tower sites under letter or purchase agreement throughout the US, plans to use the funds to continue to work with local tower owners and developers to expand its communications tower portfolio.