The Alaskan operation said during its financial results conference call two months ago it was shopping its tower assets and it looks like a buyer from Florida has answered the bell. Vertical Bridge said late Wednesday it will scoop up 275 sites from General Communications, Inc. (GCI), including 200 towers and 70 rooftop locations, operated by Alaska Wireless Network. Vertical Bridge will also provide build to suit services to the network for the next five years in the sale-leaseback deal valued at $91 million. When the transaction closes, Vertical Bridge will be the largest tower owner in the state of Alaska with approximately 300 wireless/broadcast sites.
“Vertical Bridge is excited to be chosen as a long term partner with AWN,” said Alex Gellman, Vertical Bridge’s CEO and co-founder. “These are unique, high quality, fiber ready towers built in very good locations. The tower portfolio provides full coverage of the major population centers and the vast connecting corridors in this great state.”
AWN Chief Financial Officer Bruce Broquet said, “We are confident that Vertical Bridge is the right partner to take over management and operations of our portfolio of assets. We are taking this opportunity to focus on investing in increased broadband coverage throughout the Alaska market.”
Founded just two years ago, Vertical Bridge is now the largest private owner and manager of communication towers and locations in the U.S. The Boca Raton-based company owns, operates and manages over 45,000 tower, rooftop, billboard, utility attachment and other site locations in support of all wireless network deployments.
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