Ballard Spahr announced Feb. 5 it advised EIP Holdings I in acquiring nearly 100 wireless towers from Frontier Communications. Boulder office managing partner Nathan Seiler led the team. The towers are concentrated in Connecticut, New York and California but are scattered across 17 states.
Seiler said the deal completed in mid-January, and he shared some insights about the anatomy of telecommunications deals in general.
He said in the “dawn of the cell tower era,” carriers had their own tower portfolios. But companies later realized they could better use their capital resources by selling the towers and then leasing back access. American Tower Corporation, Crown Capital and SBA Communications have emerged as a few of the largest wireless infrastructure companies.
“That was how the cell tower industry was born,” Seiler said.