TowerNorth Secures Additional Growth Capital and Expanded Debt Facility to Support Continued Growth

BOSTON--(BUSINESS WIRE)--TowerNorth, an independent developer, owner, and operator of mission critical wireless infrastructure in the United States, today announced that it has secured additional growth capital from Berkshire Partners (“Berkshire”) and closed a new debt facility.

The additional capital strengthens TowerNorth’s financial flexibility and will support the company’s continued expansion as demand for wireless connectivity and network capacity drives investment in communications infrastructure. TowerNorth plans to deploy the capital across its multiple avenues for growth, including build-to-suit and strategic tower development, developer partnerships, and selective acquisitions.

Since Berkshire’s investment in September 2023, TowerNorth has grown from 64 towers to 231 towers and expanded its development capabilities. The company has also continued to deepen relationships with major wireless carriers, build its pipeline of new tower and colocation opportunities, and acquire strategically positioned assets, including 28 towers since the beginning of 2026.

“TowerNorth has always been focused on disciplined development and being a dependable partner to our customers,” said Bert Stern, Chief Executive Officer of TowerNorth. “The additional capital gives us greater flexibility to continue executing our strategy, investing in our platform and supporting carriers as their networks and capacity needs evolve. We value Berkshire’s continued support and the industry experience they bring to our partnership.”

Founded in 2012, TowerNorth combines deep wireless infrastructure experience with local development teams in its operating markets. The company works with wireless carriers, property owners, municipalities, and other partners to navigate the complex development, permitting, and construction requirements involved in bringing new communications sites online.

“TowerNorth is a strong example of what we look for in digital infrastructure: mission-critical assets, compelling long-term demand fundamentals and a management team with the expertise and discipline to build at scale,” said Drew Walker, Managing Director at Berkshire Partners. “Since our initial investment, Bert and his team have meaningfully expanded the platform while maintaining a rigorous, engineering-led approach to development. We are pleased to invest additional capital in TowerNorth and to continue supporting its next phase of growth.”

Berkshire Partners has a long history of scaling businesses across the digital infrastructure ecosystem, including wireless towers, fiber, data centers and related technology infrastructure. The firm’s experience includes both investing and operating expertise across multiple communications infrastructure platforms.

Kirkland & Ellis LLP and Croke Fairchild Duarte & Beres LLC served as legal advisors and Guggenheim Securities LLC served as a financial advisor. Financial terms of the transactions were not disclosed.

About TowerNorth
Founded by industry veterans Josh Delman and Bert Stern in 2012, TowerNorth is an independent developer, owner, and operator of mission critical wireless infrastructure assets in the U.S. and Europe. For additional information, visit www.towernorth.com.

About Berkshire Partners
Berkshire Partners is a 100% employee-owned, multi-sector specialist investor in private and public equity, with a focus on North American-based, middle-market companies. For more than four decades, the firm's private equity team has invested in well-positioned, growing companies across services, healthcare, industrials, and technology. Berkshire is currently investing from its Fund XI, with approximately $7.8 billion in commitments. Since inception, Berkshire Partners has made more than 140 private equity investments and has consistently worked in close partnership with management teams to build enduring businesses. Stockbridge, the firm's public equity group, was founded in 2007 and manages a concentrated portfolio seeking attractive long-term investments.