Communications Tower Group
The Challenge
The U.S. wireless market demanded network densification. CTG's founders had the expertise to target difficult sites but needed institutional capital to scale from a small portfolio to a major platform.
Indigo Capital's Role
Co-founded the platform in 2018; anchored a $51 million funding commitment. Partnered with the CEO to refine strategy and prioritize "quality over quantity" in site selection.
The Outcome
Doubled tower portfolio in 20 months and increased Tower Cash Flow (TCF) by 195%. Sold tower assets in 2022 at a highly attractive TCF multiple; retained the team to launch CTG II in 2023.
