Boston, MA According to Peppertree Capital Management and the management of Blue Sky Towers, LLC, Peppertree and their affiliates have increased their funding commitment to Blue Sky Towers from $80 million to $120 million.
Blue Sky was formed in 2014 to acquire, develop, and manage wireless infrastructure throughout the U.S., with an initial funding commitment of $80 million. Due to Blue Sky’s success in executing on its business plan over the last two years, Peppertree has committed to increasing Blue Sky’s funding by $40 million, equating to a total funding commitment of $120 million.
“During the past two years, Blue Sky’s management has done a terrific job of prudently, strategically, scaling Blue Sky’s business of acquiring existing wireless assets and developing new tower and rooftop assets. We are very pleased with Blue Sky’s performance to date and are excited about expanding our financial commitment,” said Ryan Lepene, Peppertree’s managing partner.
“We are very proud of our accomplishments to date and consider ourselves fortunate to have Peppertree as our partner. We have much more to accomplish,” states Tom Remillard, CEO of Blue Sky. “Peppertree’s knowledge of the wireless infrastructure ecosystem has contributed significantly to helping us to rapidly, prudently, grow the business.”
President of Blue Sky, Jim Rech, notes that “establishing Blue Sky as an ally to our Carrier partners has been a big part of our success. From Blue Sky’s inception, it has always been our philosophy that we need to work very hard in establishing Blue Sky as a ’Carrier Friendly’ developer. This approach has resonated with the Carriers and has helped in our execution of both tower build to suit and rooftop to suit programs.”
Blue Sky has created a scalable platform for both M&A and development that has resulted in the ownership of wireless infrastructure assets throughout the country – from Hawaii to Maine. Additionally, the company has an “under contract” pipeline of acquisition and development opportunities that ensures continued growth over the next several quarters and beyond. To date, Blue Sky has over 2,900 qualified properties throughout the U.S. under an exclusive development agreement providing a long runway for long term growth.
Blue Sky Towers, LLC is a wireless infrastructure company focused on the development and management of wireless infrastructure including cell towers and rooftops throughout the country. Founded by industry veterans CEO Tom Remillard and President Jim Rech, Blue Sky is based in the Boston area.
Peppertree Capital Management, Inc. is a private equity fund manager focused on growth equity, recapitalization and buyout opportunities in the telecommunications infrastructure industry. It has founded or invested in 20 tower companies.
