DigitalBridge Buys Controlling Stake in Vertical Bridge
10 Agosto 2021 - 11:15AM
Dow Jones News
By Robb M. Stewart
DigitalBridge Group Inc. has agreed to buy a controlling stake
in Vertical Bridge Holdings LLC, as Goldman Sachs Asset Management
and the other founding shareholder in the largest private owner of
wireless-communications infrastructure in the U.S. make their
exit.
DigitalBridge said funds affiliated with its
investment-management platform reached a definitive agreement to
buy the stake in a bid to capitalize on a U.S.
telecom-infrastructure market that is expected to see accelerating
momentum.
Vertical Bridge is positioned to continue scaling rapidly,
capitalizing on tower market growth opportunities that are driven
by data consumption and development of next-generation digital
services that underpin investment in next-generation 5G networks
and digital infrastructure, it said.
The financial terms of the acquisition weren't disclosed.
Jordan Co., an infrastructure business within Goldman Sachs
Asset Management, and investment firm Stonepeak Partners said they
were exiting Vertical Bridge after a seven-year investment. The
transaction remains subject to various regulatory approvals and is
expected to close by the end of the year, the companies said.
The companies said Vertical Bridge has since its inception in
2014 completed more than 300 acquisitions and grown its portfolio
to more than 308,000 sites, including over 8,000 owned and
master-leased towers and the nation's largest and tallest
collection of broadcast tower sites.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
August 10, 2021 10:01 ET (14:01 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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