Phoenix Tower International Secures Investment from Grain Management and BlackRock
Phoenix Tower International (PTI), a leading provider of wireless tower infrastructure, announces substantial investments from Grain Management (Grain) and BlackRock. This financial infusion, emanating from Grain's flagship funds and a BlackRock fund managed by its Diversified Infrastructure business, is earmarked to fuel PTI's expansion efforts. These new investments aim to bolster PTI's mission of delivering crucial tower infrastructure across new and existing global markets.
With Grain and BlackRock stepping in alongside Blackstone, PTI's growth trajectory looks more promising than ever. Dagan Kasavana, PTI's founder and CEO, expressed enthusiasm about the partnership, anticipating that the solid track record of Grain and BlackRock in digital infrastructure will propel the company to new heights. Over the past decade, PTI has made significant strides, enhancing wireless connectivity for communities and countries craving greater digital inclusion. With the backing of these powerful investors, PTI's journey of expansion and impact is set to accelerate.
David J. Grain, the visionary behind Grain Management, sees the collaboration with PTI as a strategic fit. He underscores broadband communications' potential to catalyze digital transformation, economic prosperity, and the unlocking of human capabilities. This partnership resonates with Grain's investment philosophy, focusing on assets that drive forward digital interconnectivity and growth.
Moreover, Mark Florian, Global Head of Diversified Infrastructure at BlackRock, lauds PTI's crucial role in owning and operating infrastructure pivotal for mobile network operators worldwide. This collaboration not only signifies BlackRock's faith in PTI's business model but also its commitment to enhancing global wireless connectivity. Florian is looking forward to working closely with PTI's management, contributing to the company's sustained expansion in the coming years.
This strategic investment highlights the importance of digital infrastructure in today’s economy. As PTI leverages Grain Management and BlackRock's expertise and financial support, its path toward enhancing global connectivity and supporting digital transformation seems more assured. The investment is a testament to the growing emphasis on infrastructure that underpins the world's burgeoning digital needs, making PTI a company to watch in the wireless tower sector.
Analyst comment
Positive news. The investments from Grain Management and BlackRock are expected to fuel PTI’s expansion efforts and enhance its mission of delivering crucial tower infrastructure globally. With the backing of these powerful investors, PTI’s growth trajectory looks promising, accelerating its journey of expansion and impact. The partnership resonates with Grain’s investment philosophy and signifies BlackRock’s commitment to enhancing global wireless connectivity. PTI is poised to enhance global connectivity and support digital transformation, making it a company to watch in the wireless tower sector.
