Berkshire Partners has announced it's made a majority growth investment in TowerNorth.
Financial terms of the private transaction were not disclosed.
Founded in 2012 by Josh Delman and Bert Stern, TowerNorth specializes in developing and operating critical wireless infrastructure.
The company has a presence in 24 states, spanning the Midwest, Northeast, and Southern United States.
“TowerNorth has seen tremendous growth since inception, and we continue to see significant opportunities ahead as the buildout of 5G and successor networks continues,” said Stern, chief executive officer of TowerNorth.
“We are thrilled to partner with Berkshire Partners’ Digital Infrastructure team, which has experience scaling digital infrastructure companies, and we look forward to leveraging their tower experience and operational capabilities as we continue to develop complex site solutions and large-scale build-to-suit tower programs for our carrier partners.”
Berkshire Partners has a track record of pairing up with shared wireless access, data center, and network infrastructure businesses in the past, including Crown Castle International, Tower Development Corporation, Torres Unidas, and Protelindo.
The US private investment firm led a coalition last year to acquire 49 percent of MedOne.
“In addition to bringing the capital required to support TowerNorth in executing on its contracted tower pipeline, we look forward to helping Bert and his team scale the business to ensure continued best-in-class tower availability and development," said John Kelly, managing director at Berkshire Partners.