Berkshire doubles down on TowerNorth as tower count nearly quadruples

What's the deal? TowerNorthDealroom has a profile for this one. Try Dealroom →, a US developer and operator of wireless infrastructure, has secured additional growth equity from Berkshire PartnersDealroom has a profile for this one. Try Dealroom → and closed a new debt facility. Financial terms were not disclosed. The capital extends a relationship that began with Berkshire's initial investment in September 2023.

What's the endgame? TowerNorth builds, owns, and operates towers, working with carriers, property owners, and municipalities to navigate permitting and construction. It plans to deploy the capital across build-to-suit development, developer partnerships, and selective acquisitions.

Why now? The company has grown fast since Berkshire came aboard, expanding from 64 towers to 231. It acquired 28 towers alone since the start of 2026.

"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," said chief executive officer Bert Stern.

Who's backing it? Berkshire Partners is a 100% employee-owned investor with a track record across digital infrastructure, including towers, fiber, and data centers. It is currently investing from Fund XI, which holds roughly $7.8 billion in commitments.

"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.

The signal: Rising demand for wireless connectivity and network capacity continues to draw capital into communications infrastructure. A repeat investor scaling its position is a bet that towers remain a durable, long-cycle asset.

Read more: morningstar.com