Source: Inside Towers
InfraRed Capital Partners announced yesterday the launch of Public Safety Towers, LLC (PSTC) in the United States. Starting with an initial seed portfolio located in California, PSTC will construct new telecommunication towers in areas that are currently underserved. InfraRed is allocating $50 million to PSTC for the initial roll out but expects to deploy more capital over time as the tower build program expands. PSTC will be headquartered in Carlsbad, CA.
“InfraRed is delighted to partner with PSTC, a team that has successfully built and operated leading telecommunications and public safety enterprises in the U.S. InfraRed continues to grow its presence in the market by making value-accretive investments in target sectors, funding and developing critical infrastructure that connects communities.”
Chris Odenthal, the Chief Operating Officer for PSTC, said, “Wireless connectivity has become a basic need for data consumers as well as first responders, and PSTC will look to address a gap in the market for the benefit of the community. Public safety lies very close to our hearts at PSTC, and we will look to establish the public safety community as a partner in building industry-leading wireless facilities.”
Odenthal, who will lead the day-to-day operations of PSTC, has recent experience building the Los Angeles Regional Interoperable Communications System (LARICS) which is arguably one of the most challenging build-markets in the country.
Houlihan Lokey acted as PSTC’s exclusive financial advisor, and Greenberg Traurig, LLP served as PSTC’s legal advisor. Phillips Lytle LLP, Procopio, Cory, Hargreaves & Savitch LLP, EY-Parthenon and EY served as the advisor group to InfraRed.
