DigitalBridge Group has just announced that its investment management platform have reached a definitive agreement to acquire majority stake in Vertical Bridge Holdings, a private owner and operator of wireless communications infrastructure.

“Vertical Bridge is the leading independent tower platform in the U.S., led by the preeminent tower management team in the industry. Significant acceleration in 5G infrastructure spending in the U.S has created a tremendous long-term growth opportunity for telecommunications infrastructure and demonstrated that investments to support the next generation of mobility continue to be a powerful thematic,” said Steven Sonnenstein, Senior Managing Director of DigitalBridge Investment Management.

“By consolidating Vertical Bridge’s ownership via our fund management business, we will not only extend our long-standing relationship, but we will be even better positioned to support the Vertical Bridge team as they build on their market leadership and capitalize on exciting growth opportunities,”

As announced, the 2014 founded tower platform Vertical Bridge is said to have since inception expanded its portfolio to include over 308,000 owned or master-leased sites, including over 8,000 towers across the U.S.

“We have experienced significant, industry-leading growth at Vertical Bridge since our inception, scaling our platform to meet the evolving needs of our customers. This financial commitment not only positions Vertical Bridge to meet the rising demand for infrastructure solutions in light of new technologies, but also accelerates the substantial organic and inorganic growth opportunities available to us in this dynamic market. We look forward to continuing to work with the DigitalBridge team as we expand our asset portfolio to become a stronger and more agile partner serving the U.S. wireless and broadcast markets,” said Alex Gellman, Chief Executive Officer of Vertical Bridge.

While the transaction is subject to various regulatory approvals with undisclosed financial terms, it is expected to close during the fourth quarter of 2021.