Bradenton cell tower firm rings up $100M investment

BRADENTON — Tarpon Towers, a Bradenton-based firm that builds and buys cell phone towers, has secured $100 million in private equity and bank financing to aid an aggressive growth strategy.

The firm created Tarpon Towers II to oversee the funds, according to a release. It's a joint venture that consists of $60 million from Baltimore-based Redwood Capital Investments and a $40 million loan from a regional bank, the release adds.

The capital, say company officials, will be used “to acquire and build wireless communications towers and other wireless infrastructure.” The firm will also use the funds for build-to-suit agreements with national and regional wireless companies.

“We are excited about partnering with Redwood Capital and continuing to invest in U.S. based assets,” Tarpon CEO Ronald Bizick says in the statement. “With Redwood Capital, we have found a partner that is committed to investing over a much longer period than traditional equity sources and has the capability and appetite to invest significantly more than the initial capital commitment.”