Skyway Towers has finalized a $200 million senior secured credit facility, led by the private credit business within Goldman Sachs Asset Management.
According to Skyway, proceeds from the financing will be used to repay existing indebtedness, to fund general working capital, and to fund Skyway’s continued growth and development of its communications towers throughout the US.
Skyway owns more than 465 towers across the US, spanning more than 30 states.
"We are pleased to obtain this renewed financing commitment from Goldman Sachs, demonstrating our solid financial structure," said Scott Behuniak, president & COO of Skyway.
“This commitment accelerates our continued mission to develop new wireless infrastructure for our national carrier partners as they deploy and densify their 5G networks, assist first responders with dedicated networks as well as local wireless broadband providers as they support their customers who increasingly work and school from home.”
Skyway was acquired by Basalt Infrastructure Partners LLC back in 2022 from Tinicum L.P. and affiliated entities.
Basalt focuses on midmarket investments in utilities, power, transport, and communications infrastructure in North America and Europe.
Other investments by the Basalt funds in North America include Hyperion Power, Helios Power, Black Bear Transmission, Habitat Solar, Xpress Natural Gas, Fatbeam, and Fortbrand.
