DigitalBridge Group, Inc. has closed on the previously announced controlling stake in Vertical Bridge, the largest independent tower company in the United States. The company announced that funds connected to DigitalBridge have completed the transaction that was previously reported.
“We are pleased to extend our longstanding relationship with Vertical Bridge, the industry’s leading independent tower platform led by the preeminent tower management team,” said Steven Sonnenstein, Senior Managing Director of DigitalBridge Investment Management. “The rapidly increasing demand for telecommunications infrastructure in the United States has created exciting and meaningful opportunities for long-term growth. Our ownership position in Vertical Bridge is representative of our conviction in its future.”
Vertical Bridge owns over 8000 towers and has about 300,000 owned or master-leased locations in its portfolio. The growth of the company has been impressive with a solid, experienced management team and strong financial backbone. The company was founded in 2014 by a group of industry veterans and continues to provide locations to the carriers around the country.