Eco-Site, a new venture focused on building wireless communications sites, has raised $80 million from a private equity firm in one of the largest investment deals announced in North Carolina this year.
The company announced the funding deal Friday, saying it had secured the equity financing from Atlanta-based MSouth Equity Partners.
Eco-Site plans to focus on developing communications sites in so-called “brownfield” and blighted properties in “tightly congested” metropolitan markets.
“We are launching a new model for wireless infrastructure that capitalizes on a unique convergence of market opportunities,” said Dale Carey, Eco-Site’s chief executive officer.
“We will buy and remediate the real estate, build an urban micro-cell while also providing backhaul and backup generator services. We believe this comprehensive package offers a unique solution for wireless carriers.”
Carey is a longtime wireless industry executive.
Eco-Site also plans to work with Raleigh-based Cherokee Ventures, Carey told the Triangle Business Journal.
In addition to Carey, the management team includes:
- President and Chief Operating Officer Bob Glosson and
- Executive Vice President and General Counsel, Rich Stern
“We are very excited about our investment in Eco-Site and look forward to working with this highly experienced management team,” said Barry Boniface, an MSouth Equity partner. “We believe the Company is in an excellent position to capitalize on the increasing demand for wireless infrastructure in dense urban markets.”
