PTI enter Germany with interesting acquisition
PTI’s acquisition of NOVEC GmbH promises to shake-up the German telecom tower market
Phoenix Tower International (PTI) is entering Germany after signing a deal to acquire Netherlands-based Novec BV’s German subsidiary, Novec GmbH. The German towerco operates 220 sites and gives PTI a foothold in the German market where Deutsche Funkturm, Vantage Towers and American Tower between them own 61,683 of Germany’s 78,483 telecom towers and rooftops. A third of PTI’s German portfolio is high voltage pylons and the rest are a mix of macro towers (towers, silos, chimneys and roof tops) in different locations and in areas with different population density.
Who is PTI?
The deal marks Phoenix Tower’s entrance into its sixth European market and its 21st globally, adding to its European portfolio in Cyprus, France, Ireland, Italy and Malta.