A Bradenton wireless communications tower company recently
received $15 million from a private investment fund to expand business
throughout several states, including Florida.
Tarpon
Towers, wireless communications infrastructure company specializing
in the acquisition and development of wireless communication towers,
received the funds from Spire Capital Partners, a leading private
investment fund specializing in communications technology, on March 15,
2010. A managing member of Spire Capital will join Tarpon's
board of directors as part of the transaction.
"We are excited to have Spire Capital join the Tarpon family
as we feel Spire's extensive experience in the tower sector and strong
industry relationships will be invaluable to Tarpon as we continue to
build our business and create shareholder value," says Ronald Bizick,
Tarpon co-founder
and CEO.
The need for
more towers and the capital required to fund them arose from increased
use of wireless technology such as smart phones and other devices that
rely heavily on cellular transmission.
"Growth in our business is dependent on access to capital and
we are seeing numerous opportunities to put capital to work at
attractive returns," adds William Freeman, Tarpon's co-founder and
president.
The investment will make
possible more than 100 towers in 14 or 15 states, which will positively
impact service through such carriers as
Verizon, AT&T and T-Mobile. Tarpon currently owns 85 towers
throughout Florida, North Carolina, Georgia, Mississippi, Texas,
Michigan, Connecticut, New York and California.
Tarpon Towers is based in Bradenton and has operated under its
current management team since 2008. The company was able to add five
new positions last year due to a previous investment of $50 million.
Writer: Missy
Kavanaugh
Source: William Freeman, Tarpon Towers
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