A flurry of recent transactions, both towerco-on-towerco consolidations and sale and leasebacks, combined with healthy organic growth for SBA Communications, Torrecom, Phoenix Tower International and Telesites, have driven towerco penetration in Central America from 34% two years ago to 42% today. Independent towercos now own 5,100 of the 12,050 towers in Central America, compared to 3,681 of 10,971 in 2015.
Why the Central American tower markets are attractive
Let’s take a look at the Central American tower markets through the lens of a prospective towerco investor.
What’s not to like?
Scale: With the opportunity for shared operational resources, and with many customers in common across six countries, Central America might effectively be considered a single market – thus CALA’s fifth largest, and perhaps most stable tower market.
