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- Phoenix Tower International
Phoenix Tower International Valuation, Funding & Investors
Phoenix Tower International is valued at $500M as of October 2022.
Last Phoenix Tower International valuation
$500M
Undisclosed stage · Oct 2022
Last Phoenix Tower International funding round
$50M
Undisclosed stage · Oct 2022
Cumulative funding Phoenix Tower International raised
$1.4B
across 2 funding rounds
Key investors in Phoenix Tower International
Blackstone
Wren House Infrastructure
About Phoenix Tower International
Phoenix Tower International is a global owner and operator of wireless infrastructure with more than 25,000 sites across 70 countries. Headquartered in Boca Raton, Florida, the company acquires and manages towers, rooftops, and small cells leased to carriers like AT&T, Verizon, and Vodafone. Phoenix Tower International supports 4G LTE and 5G deployments, completing major acquisitions such as 4,000 US sites from AT&T in 2021 and expanding into Latin America and Europe.
Founded
2013
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$500M (Oct 2022)
Sectors
Phoenix Tower International Valuation
Phoenix Tower International is currently valued at $500M, based on its undisclosed-stage round in October 2022.
The $50M round was led by Wren House Infrastructure.
Phoenix Tower International valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2022 | Undisclosed stage | $500M |
Phoenix Tower International Funding History
Phoenix Tower International has raised a total of $1.4B across 2 funding rounds.
Phoenix Tower International's first fundraising round was a $1.4B undisclosed-stage round in February 2020. The most recent completed round was a $50M undisclosed-stage round in October 2022.
Phoenix Tower International funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2022 | Undisclosed stage | Wren House Infrastructure (lead) | $50M | $500M | Phoenix Tower International (PTI) is a US-based provider of mobile communications infrastructure, operating as one of the largest and fastest-growing independent tower platforms globally. Founded in 2013 and headquartered in Boca Raton, Florida, PTI owns and manages towers across North America, South America, the Caribbean, and Europe, with over 19,000 towers in 20 countries as of October 2022 and growth to over 30,000 towers in 24 countries noted later. It serves a diversified base of global mobile network operators with long-term contracts and has shown consistent revenue growth across its markets. In October 2022, Wren House Infrastructure Management Limited, a London-based global infrastructure investor, announced it would become a minority shareholder in PTI, which is majority-owned by Blackstone's infrastructure funds. This investment aligns with Wren House's strategy in digital infrastructure and US market expansion, marking their second US deal that year after Direct ChassisLink and third overall including i3 Broadband. PTI's growth continued post-investment, with a €1.2 billion senior credit facility closed in September 2023 to refinance debt, fund acquisitions like a 1,226-site French portfolio from Cellnex, and support capital expenditures. By then, PTI operated over 22,000 towers. |
| Feb 2020 | Undisclosed stage | Blackstone (lead) | $1.4B | - | Phoenix Tower International (PTI) is a leading provider of wireless communications infrastructure, owning and managing over 8,000 towers, 986 km of fiber, and over 80,000 other wireless sites across 14 countries including the US, Latin America, and France. Blackstone Tactical Opportunities (Tac Opps) completed a recapitalization of PTI on February 3, 2020, raising $1.4 billion in dedicated capital to support PTI's global business plan in the digital infrastructure sector, particularly amid 5G build-out demands. Tac Opps had initially invested in PTI in 2014, with the company growing significantly under management led by CEO Dagan Kasavana and Executive Chairman Tim Culver, who deployed over $3.5 billion in capital. The recapitalization involved a structured secondary transaction, transferring interests from earlier Tac Opps funds to a new dedicated Blackstone PTI Fund. |
Who has invested in Phoenix Tower International?
2 investors have backed Phoenix Tower International across its funding rounds, including Blackstone and Wren House Infrastructure.
Lead investors include Wren House Infrastructure and Blackstone.
Phoenix Tower International Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 2 Phoenix Tower International investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Phoenix Tower International
Phoenix Tower International has acquired 4 companies to date.
Last acquisition by Phoenix Tower International was on December 24th 2025. Phoenix Tower International acquired Infracos for $950M.
Latest Acquisitions by Phoenix Tower International
| Description | Infracos is a French company offering site occupation rights and network enablement services to telecom operators for efficient infrastructure rollout. | Cellnex Ireland is a Dublin-based operator of wireless telecommunications infrastructures under the Cellnex Telecom umbrella, Europe's largest independent tower company. It manages over 1,800 sites including monopoles and rooftops for 4G/5G rollout, leasing space to operators like Vodafone, Three Ireland, and Eir. The firm supports public safety networks and small cell deployments in urban areas. Recent acquisitions bolster its portfolio for nationwide coverage and IoT connectivity. | Novec is a Dutch company installing antenna systems on telecom towers and high-voltage pylons for indoor network coverage. It equips masts with multi-operator hosting points supporting 4G/5G small cells and DAS solutions. Novec manages over 1,000 sites nationwide, partnering with KPN, Vodafone, and T-Mobile. Based in Utrecht and founded in 2006, the firm optimizes passive infrastructure for urban densification. | Syscom Telecom is a provider managing over 80,000 sites for small cell and macro deployments across the United States. Holding master agreements with major wireless carriers like AT&T and Verizon, it handles site acquisition, construction, and maintenance for 5G network expansions. |
| HQ Country | ||||
| HQ City | - | Barcelona | Utrecht | Miami, FL |
| Deal Date | 24 Dec 2025 | 5 Mar 2024 | 11 Oct 2023 | 28 Dec 2018 |
| Valuation | $950M | $1B | undisclosed | undisclosed |
| EV/Revenue | ||||
| EV/EBITDA | ||||
This data is available for Pro users. Sign up to see all Phoenix Tower International acquisitions and their M&A valuation multiples. Start Free Trial | ||||
Phoenix Tower International Competitors
Phoenix Tower International competitors include listed companies like Reunert, Kinx, Dongwon Systems and Adtran, and private ones like Cohere Technologies and Iranian Net Co..
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $500M | - | ||
| Publicly listed | $854M | $116M | $509M | 0.6x | ||
| Publicly listed | $116M | $37M | $487M | 4.6x | ||
| Publicly listed | $999M | $125M | $456M | 0.7x | ||
| Publicly listed | $1.1B | $79M | $579M | 0.9x | ||
| Private | $31M | - | $602M | 19.4x |
Phoenix Tower International Public Comps
Phoenix Tower International is still privately-owned, but its public comps include Reunert, Kinx, Dongwon Systems, Adtran, ITG, Shentel, Rapac, Inti Bangun Sejahtera, Ericsson Nikola Tesla and Dalekovod.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $854M | $116M | 0.6x | 0.6x | 4.4x | 4.8x | |||
| $116M | $37M | 4.5x | 4.6x | 14.1x | 15.6x | |||
| $999M | $125M | 0.7x | 0.7x | 5.3x | 5.3x | |||
| $1.1B | $79M | 1.0x | 0.9x | 13.4x | 8.5x | |||
| $1.2B | $112M | 1.3x | - | 13.2x | - | |||
| $358M | $115M | 4.0x | 3.9x | 12.4x | 11.0x | |||
| $262M | $11M | 2.1x | - | 51.7x | - | |||
| $49M | $46M | 13.6x | - | 14.4x | - | |||
This data is available for Pro users. Sign up to see all Phoenix Tower International competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Phoenix Tower International
| When was Phoenix Tower International founded? | Phoenix Tower International was founded in 2013. |
| Where is Phoenix Tower International headquartered? | Phoenix Tower International is headquartered in Boca Raton, FL, United States. |
| Is Phoenix Tower International publicly listed? | No, Phoenix Tower International is a private, VC-backed company. |
| What is Phoenix Tower International's valuation? | Phoenix Tower International was last valued at $500M in its undisclosed-stage round in October 2022. |
| How much funding has Phoenix Tower International raised? | Phoenix Tower International has raised $1.4B across 2 funding rounds. |
| What was Phoenix Tower International's last funding round? | Phoenix Tower International's last funding round was a $50M undisclosed-stage round in October 2022, led by Wren House Infrastructure. |
| Who are Phoenix Tower International's investors? | Phoenix Tower International's investors include Blackstone and Wren House Infrastructure. |
| Which companies are comparable to Phoenix Tower International? | Companies comparable to Phoenix Tower International include Cohere Technologies, Reunert, Kinx, Dongwon Systems, Adtran and Iranian Net Co.. |
| How many companies has Phoenix Tower International acquired? | Phoenix Tower International has acquired 4 companies, including Infracos, Cellnex Ireland, Novec and Syscom Telecom. |
| What was the largest acquisition by Phoenix Tower International? | The $1B acquisition of Cellnex Ireland in March 2024 is the largest acquisition Phoenix Tower International has made to date. |
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