Five year DAS ride for SBA unexpectedly ends
In a deal that took many industry observers by surprise, DAS developer ExteNet Systems, Inc. announced that Digital Bridge Holdings and Stonepeak Infrastructure Partners will recapitalize the company with more than $1 billion dollars, and Digital Bridge’s CEO Marc Ganzi will assume the position of Chairman of the Board.
ExteNet Systems, a wireless-infrastructure company whose business is soaring with the demand for video and data by smartphone and tablet users, is Chicago's newest “unicorn” with a valuation over $1 billion.
Recapitalization to Fuel Long-Term Growth in Rapidly Expanding Small Cell Market
CHICAGO, July 23, 2015 /PRNewswire/ -- ExteNet Systems, Inc., a leading provider of distributed networks enabling outdoor and indoor wireless connectivity, today announced that Digital Bridge Holdings (Digital Bridge) and Stonepeak Infrastructure Partners (Stonepeak) have committed or arranged for over $1 billion in a recapitalization of the company in which the interests of existing investors will be acquired and additional capital will be provided to support the long-term growth of the business.
ExteNet Systems, a builder and operator of DAS and small cell systems, is set to become part of Digital Bridge Holdings, the investment group that owns Vertical Bridge and Mexico Tower Partners. Along with Stonepeak Infrastructure Partners, Digital Bridge is set to acquire ExteNet’s current investors, including SBA Communications. The purchase price is expected to be more than $1 billion, but the companies did not specify the exact amount.
From AGL Media Group, May 6, 2015
By J. Sharpe Smith
ATLANTA, Georgia — The upcoming small cell build out will depend on siting antennas on electric utility infrastructure, Marc Ganzi, CEO, Digital Bridge Holdings, told an audience at the UTC Telecom & Technology 2015 conference on May 5.
Company Also Finalizes Lease Arrangement To Continue To Use Those Towers To Broadcast Its Radio Stations
April 8, 2015 – New York, NY – iHeartMedia, Inc. (OTCBB: IHRT), one of the leading global media and entertainment companies, announced today that the first closing of the sale of a select portfolio of its tower assets to Vertical Bridge has occurred. Initial closing proceeds were approximately $369 million prior to fees and customary adjustments for prorated items. Additional closings are expected to occur.
Wall Street would love you to believe that small cells will dominate the construction environment for the next five years. But at the end of the day, it may be more macros than micros.
Speaking at a meeting of the Maryland-DC Wireless Association, Marc Ganzi, the chief executive officer of Digital Bridge, said investors and owners have as much reason to be optimistic about the tower industry as ever. Ganzi is the founder and former CEO of Global Tower Partners."
Vertical Bridge Holdings, LLC, a privately owned real estate investment trust (REIT) focused on the ownership of wireless communications towers in the US, has secured over $470 million of incremental equity commitments to support its acquisitions, new tower build programs, and growth strategy. Vertical Bridge has closed 23 cell site acquisitions so far this year, including 4 deals completed since October 1. Vertical Bridge Holdings was founded in 2014 by Marc Ganzi and other executives from Global Tower Partners after American Tower bought that company in 2013. The company focuses on owning, operating, and managing telecommunications towers, rooftops, and site locations across the country.
- Significant investment by leading institutions, foundations, family offices and individuals through Digital Bridge US Tower Holdings, LLC
- Additional investment by The Jordan Company and major new commitments from Goldman Sachs (GS) Infrastructure Partners and Stonepeak Infrastructure Partners
- Brings total equity raised by Digital Bridge to nearly $1 Billion across its three businesses
BOCA RATON - September, 2014 - Vertical Bridge Holdings, LLC, a privately owned tower company, today announced that it has secured over $500 million of incremental capital to support its acquisition and new tower build programs and growth strategy.