Local News

TowerCo Closes on $30 Million in New Financing

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CARY, NC — TowerCo

, a 2004 wireless tower startup founded by former executives at SpectraSite, has closed on $30 million in new financing.

The investment, which was announced in January, was made by Soros Strategic Partners LP.

TowerCo was founded by Tailwind Capital and former SpectraSite management in September 2004.

Richard J. Byrne, Chief Executive Officer of TowerCo, said "The additional equity will help us accelerate our tower development activities," said Richard Byrne, chief executive officer of TowerCo. "We exceeded our goal of reaching 200 towers by the end of 2005. Including our current pipeline of towers, we are more than half-way towards our longer-term plan of owning 1,000 towers by 2009."