Long‑term institutional investor Caisse de dépôt et placement du Québec (CDPQ) Tuesday said it reached an agreement to acquire a 30 percent stake in the main operating subsidiary of Vertical Bridge Holdings, LLC, the largest private owner and operator of communications infrastructure in the United States.
Vertical Bridge will use the investment from CDPQ to continue to expand its portfolio of broadband and broadcast towers, small cells, real estate and other wireless infrastructure assets ahead of 5G deployment. Since its inception in 2014, Vertical Bridge has completed more than 250 acquisitions and grown its portfolio to over 266,000 sites, including more than 16,000 owned and master-leased towers, as well as the nation’s largest and tallest private portfolio of broadcast towers.
“With this acquisition, we expand our exposure to telecommunications infrastructure by partnering with a first‑class operator that is strategically positioned in the market and brings a wealth of knowledge of the industry,” said Emmanuel Jaclot, Executive Vice‑President, Infrastructure at CDPQ. “We are delighted to work alongside the Vertical Bridge team, and support the company’s next stages of development and long-term growth in an attractive wireless infrastructure sector.”
“Two key goals since the day we were founded have been to be a leader in wireless communications infrastructure and to have longevity as a private company. The commitment from CDPQ – as well our current investors’ ongoing support – will allow us to continue to meet these objectives,” said Alex Gellman, CEO and Co-Founder of Vertical Bridge. “We are thrilled to add CDPQ to our investor group, and look forward to working with them as we offer an even broader range of innovative infrastructure solutions to customers in the dynamic U.S. wireless and broadcast markets.”
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April 3, 2019
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