CARY, North Carolina, December 1, 2021 /PRNewswire/ — CTI Towers, Inc. (“CTI Towers”), a leading owner and operator of wireless towers in the United States, today announced that telecommunications industry veteran David Bacino, an operating partner at Melody Investment Advisors LP (“Melody”), has been named interim CEO. Mr. Bacino succeeds Tony Pedutowho will retire from January 1, 2022. Mr. Peduto will remain an advisor to the company.
CTI Towers, based in Cary, North Carolina, is one of the largest private tower companies in the United States. The company has been a portfolio company of Melody Investment Advisors, an alternative asset manager focused on telecommunications infrastructure investments, since 2020. CTI Towers was founded by Mr. Peduto in 2011 and currently owns and manages approximately 1,150 tours in 47 states. Lessors of CTI Towers assets include major wireless carriers AT&T, DISH, T-Mobile and Verizon.
“Under Tony’s leadership and vision, CTI Towers has built a solid foundation for continued expansion and we thank him for his many contributions to the success of the business,” Mr. Bacino said. “With the tailwinds created by 5G and the increased need for network densification, we are excited about the opportunities we see to grow our cell tower footprint for the benefit of our customers.”
“When I founded CTI Towers more than a decade ago, my vision was to create a premier wireless tower company that would own and operate long-lived assets,” Mr. Peduto said. “The team today is strong and deep, and with David’s leadership and the support of the Melody team, the company is well positioned for the future with excellent development prospects and the ability to continue to provide best in class service to our partners across the United States”
Mr. Bacino has over 30 years of management and operational experience in the telecommunications industry. Prior to becoming an Operating Partner at Melody, Mr. Bacino was President of Melody Wireless Infrastructure, one of the largest private tower companies in the United States, which was sold to Sculptor Real Estate and Diamond Communications in May 2020. Earlier in his career, he held executive positions at American Tower, Powerwave Technologies and Nextel Communications.
About CTI Towers
CTI Towers, Inc., based in Cary, North Carolinais one of the largest private tower companies in the United States. Founded in 2011 with investment from Comcast Ventures, the company was acquired by Melody in 2020. The company operates more than 1,200 wireless communication towers in 47 states in the continental United States and leases tower space. major wireless carriers, including AT&T, DISH, T-Mobile, and Verizon, as well as broadcasters, utility companies, Internet service providers, and government entities.
To learn more about CTI Towers, visit www.ctitowers.com.
About Melody Investment Advisors
Melody Investment Advisors LP is an alternative asset manager led by Founder and Managing Partner, Omar Jaffrey, focused on communication infrastructure. The company seeks to invest through direct asset ownership as well as developing innovative financing solutions to complex issues for the world’s leading communications companies. To learn more about Melody, visit www.melodyinvestmentadvisors.com.
Melody Investment Advisors
Steve Bruce / Mary Beth Grover
[email protected] /mailto:[email protected]
SOURCECTI Towers, Inc.