SDC Capital Partners closed on a $50m equity capital commitment to Arcadia Towers Group, a developer, owner, and manager of communications tower infrastructure and rooftop sites. Specifically, SDC Capital’s investment will support Arcadia Towers’ acquisition of existing tower assets and build-to-suit (BTS) commitments for wireless carriers. Additionally, SDC Capital Partner’s investment aims to accelerate Arcadia Towers’ growth in municipal & school district partnerships and rooftop management for commercial real estate owners.
Notably, Arcadia Towers currently owns ~10 sites. Therefore, SDC Capital’s equity is primarily a source of growth capital, as opposed to consideration for purchasing the business.
Arcadia Towers Group – SDC Capital Fuels Growth
Arcadia Towers was founded in 2005 and primarily serves wireless carriers like Verizon, AT&T, and T-Mobile. Specifically, the company offers build-to-suit (BTS) towers, co-location on towers & rooftops, and partners with rooftop owners and landlords. For these wireless carriers, Arcadia Towers will support their deployment of new spectrum and network densification, particularly for 5G technology.
Historically, the company has operated in a regional footprint of Ohio, Kentucky, and Indiana. However, alongside SDC Capital, Arcadia Towers plans to expand into additional states.
The Arcadia Towers team has collectively developed, owned, managed, and acquired hundreds of wireless towers, ground leases, and rooftop sites. In addition to the wireless carriers, the company serves public safety entities, utilities, wireless Internet service providers (WISPs), governments, local telecom providers, fiber operators, and data centers.
Management Team – Arcadia Towers Group
Arcadia Towers Group is led by Sam Johnston, John Rolander, and Scott Billups.
Sam Johnston – Co-Founder, President, and CEO
Sam Johnston co-founded Arcadia Towers, LLC in 2005, which sold its portfolio of 22 tower assets to American Tower for $17m, equivalent to $773k per tower, in 2012. Subsequently, in 2014, Johnston founded Arcadia Towers II, LLC, which sold its portfolio of 12 sites to InSite Wireless for $8m, equivalent to $667k per tower, in 2019.
Prior to Arcadia, Johnston co-founded and was Managing Director of Lattice Communications, LLC. Founded in 1997, Lattice acquired and developed >350 tower sites in 15 states. Lattice sold to Global Signal in December 2004 for $115m.
John Rolander – Partner, Chief Development Officer
John Rolander serves as Chief Development Officer for Arcadia Towers Group, responsible for the company’s public-private partnerships with school districts, municipalities, and government entities. Most recently, Rolander served as a Managing Director of Capital Markets and Municipal Underwriting with Hilltop Securities. At Hilltop, Rolander focused primarily on municipal bonds serving K-12 schools, local governments, counties, and states.
Scott Billups – Co-Founder, Chief Financial Officer
Scott Billups serves as CFO for Arcadia Towers Group and manages the company’s financial and M&A activities. Billups’ prior experience includes financial and management roles with NBC Universal and GE Aviation, both subsidiaries of General Electric.