Houlihan Lokey Advises Charter Communications

Houlihan Lokey is pleased to announce that Charter Communications, Inc. (Charter) has sold wireless tower assets to both Everest Infrastructure Partners, Inc. (Everest) and TowerCo.

Everest and TowerCo have jointly announced the acquisition of 546 wireless towers from Charter to be completed over multiple closings, the first of which occurred in December 2023. Houlihan Lokey served as the exclusive financial advisor to Charter.

The wireless tower assets included in this transaction are located in 37 states throughout the U.S. and collectively represent one of the largest portfolio transactions of tower assets in the U.S. during the past 10 years. In addition to financial value for the sale of towers, Charter will receive existing and future tower-use rights across the nationwide tower portfolios of Everest and TowerCo. Charter will also continue to serve as the preferred fiber provider to applicable tower sites included in the transaction.

“Both Everest and TowerCo are incredibly pleased to have been selected by Charter for this transaction,” said Mike Mackey, President of Everest. “We believe these tower assets are high-quality complements to our existing portfolios, and we look forward to expanding the network coverage of our customers with increased leasing activities in the future.”

Todd Boyer, Chief Executive Officer of TowerCo, added, “We are excited to acquire these attractive, strategically located assets while expanding TowerCo’s national footprint. We look forward to maximizing the value of these assets, providing exceptional wireless connectivity solutions for our customers, and a productive relationship with Charter as we assume ownership and operations of the towers.”

Everest and TowerCo are each supported by lead equity sponsor Peppertree Capital Management.

RELATED: Technology