Business · Datacenter Dynamics
KKR commits $1.5bn in tower company Vertical Bridge
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Wireless communications infrastructure company Vertical Bridge has secured a $1.5 billion investment from private equity firm KKR.
Key facts
- Last year, Vertical Bridge completed its $3.3bn acquisition of more than 6,000 towers from Verizon
- KKR has invested more than $40 billion in digital infrastructure globally to date, including tower companies Vantage Towers in Europe and Pinnacle Towers in the Philippines, plus in past investments
- Wireless communications infrastructure company Vertical Bridge has secured a $1.5 billion investment from private equity firm KKR
- The investment from KKR comes a couple months after Vertical Bridge announced that it successfully issued $1.94bn of tower revenue notes
Summary
The investment will support Vertical Bridge's future growth, as KKR becomes the latest investor in the infrastructure company. Vertical Bridge REIT, LLC is the largest private owner and operator of wireless communications infrastructure in the US and has a nationwide portfolio of more than 17,000 towers. “This transaction provides us with the resources to continue developing our portfolio at scale while maintaining our disciplined, returns-focused approach to capital deployment,” said Ron Bizick, president and CEO of Vertical Bridge. “We are pleased to have KKR as an experienced, long‑term investor as we expand our platform, advance organic development, and selectively pursue M&A opportunities that strengthen our portfolio, while continuing to deliver the agile, customer‑focused approach that defines Vertical Bridge.”