Industry Veteran to Lead Growth for Infrastructure Industry's Newest Player
RANCHO CORDOVA, Calif., June 4, 2024 /PRNewswire/ -- Grande Towers, a global digital infrastructure company powering wireless connectivity and digital communications, today announced that Tony Peduto has been named chief executive officer. With four decades of experience in the communications sector, Peduto will lead Grande Towers as it builds out the digital infrastructure required to support wireless networks, artificial intelligence (AI) and cloud services.
Grande Towers – co-founded by Clarence Cook and Jason Peduto, and backed by Norwest Venture Partners – owns towers in Florida, Georgia, Illinois, New Jersey, North Carolina, Oklahoma and South Carolina.
"With decades of industry experience leading companies like CTI Towers, Tony was a natural choice for CEO of Grande Towers," said Cook. "He has a great understanding of the players and modern communications infrastructure required to support the digital revolution during a time of continued growth. We are confident he is the ideal person to be at the helm as we expand Grande Towers' market presence."
Peduto founded CTI Towers and led the company through two successful sales in his 10 years there, before retiring in 2022. Prior to CTI Towers, he was COO of Optasite until the company's sale to SBA Communications Corp. Earlier in his career, Peduto was a vice president at American Tower after a successful 20-year career in the cable television industry. He is also a board member of Shared Tower in Canada.
"Tony has an impeccable reputation in the tower industry and as a business leader who excels at creating shareholder value," said Norwest General Partner Dave Zilberman. "As an investor in CTI, I had the pleasure of working with Tony through the company's two exits and witnessed how he used his acumen and industry knowledge to drive growth. I have no doubt he will do the same for Grande Towers, and I look forward to working with him again."
"As much as I thought I was ready for retirement, I continued to stay engaged in the industry with Shared Tower. When they approached me to join Grande Towers, I couldn't resist the opportunity to build another high-growth company led by motivated and passionate executives as the second half of 5G deployment is on the horizon," Peduto said. "Going to the recent Connect X show and speaking with others in the industry fueled my excitement about the future and further confirmed that joining Grande Towers as CEO was a great decision. We're the right team, in the right place, at the right time."
About Grande Towers
Founded in 2024, Grande Towers is a global digital infrastructure company powering wireless connectivity and digital communications. Incubated by Norwest and co-founded by Clarence Cook and Jason Peduto, the company is poised to develop the infrastructure needed to support future growth and innovation in the communications sector – from 5G, 6G and fixed wireless to artificial intelligence (AI) and cloud services – across the globe. Grande Towers is headquartered in Rancho Cordova, Calif. For more information, visit gtctowers.com.
About Norwest Venture Partners
Norwest Venture Partners is a global venture and growth equity investment firm managing more than $15.5 billion in capital. Since its inception, Norwest has invested in more than 700 companies and currently partners with more than 230 companies in its venture and growth equity portfolio. The firm invests in early- to late-stage businesses across key sectors with a focus on enterprise, consumer and healthcare. The Norwest team offers a deep network of connections, extensive operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses. Norwest has offices in Menlo Park and San Francisco, Calif.; Mumbai, India; and Tel Aviv, Israel. For more information, please visit .
SOURCE Grande Towers