Vertical Bridge Holdings Acquisition, Valuation, Funding & Investors

Vertical Bridge Holdings was acquired by DigitalBridge Group for $700M in August 2021.

Vertical Bridge Holdings acquisition price

$700M

Acquired by DigitalBridge Group · Aug 2021

Cumulative funding Vertical Bridge Holdings raised

$2.5B

across 3 funding rounds

Key investors in Vertical Bridge Holdings

Vertical Bridge Holdings Overview

About Vertical Bridge Holdings

Vertical Bridge Holdings is a Boca Raton-headquartered owner and operator of wireless infrastructure towers and rooftops. Founded in 2014, it manages over 5,000 sites across the United States, specializing in colocation for 4G and 5G deployments. The company builds to suit macro towers, small cells, and DAS systems for carriers like AT&T, Verizon, and T-Mobile. Vertical Bridge focuses on underserved markets in Florida, the Northeast, and Midwest regions.


Founded

2014

HQ

United StatesBoca Raton, FL

Status

Acquired

Customer focus

B2B

Revenue model

Usage-based

Valuation

$700M (acquired Aug 2021)

Vertical Bridge Holdings Acquisition

Vertical Bridge Holdings was acquired by DigitalBridge Group for $700M on 11 August 2021.

Before the acquisition Vertical Bridge Holdings had raised $2.5B across 3 funding rounds.

Vertical Bridge Holdings acquisition details
AcquirerDateTypePrice
11 Aug 2021Strategic M&A$700M

Vertical Bridge Holdings Funding History

Vertical Bridge Holdings has raised a total of $2.5B across 3 funding rounds.

Vertical Bridge Holdings' first fundraising round was a $1B undisclosed-stage round in November 2014. The most recent completed round was a $1.5B undisclosed-stage round in April 2026.

Vertical Bridge Holdings funding rounds

Vertical Bridge Holdings funding rounds
DateStageInvestorsRaisedDeal Summary
Apr 2026Undisclosed stageKKR (lead); La Caisse; DigitalBridge Group$1.5BVertical Bridge REIT, LLC, the largest privately held owner and operator of communications infrastructure in the United States, secured a $1.5 billion strategic equity investment from KKR announced on April 22, 2026. Existing sponsors DigitalBridge and La Caisse (Caisse de dépôt et placement du Québec) also participated in the equity round, maintaining their long-term partnership with the company. The investment establishes a fully funded, long-term capital structure designed to support Vertical Bridge's expansion strategy, portfolio acquisitions, and operational growth. Vertical Bridge operates over 17,000 communications towers across all 50 states, Puerto Rico, and Washington, D.C. The company has demonstrated strong capital markets execution, including a record $1.94 billion asset-backed securitization in February 2026 backed by 10,425 tower sites, and a prior $595.1 million securitization in 2025. DigitalBridge, Vertical Bridge's parent company, is itself undergoing acquisition by SoftBank Group at $16.00 per share in an all-cash transaction that received shareholder approval on April 23, 2026.
Apr 2022Undisclosed stageDigitalBridge Group (lead); Pantheon Ventures-Pantheon Ventures announced on 4 April 2022 that it had invested 30 million dollars, about 23 million pounds at the exchange rates of the day, in the US wireless communications infrastructure operator Vertical Bridge. The investment was made through Pantheon Infrastructure Plc, the London-listed trust Pantheon manages, and was structured as a minority position in a co-investment vehicle managed by DigitalBridge Group, the listed digital infrastructure investor that was then managing around 45 billion dollars of digital infrastructure assets. No valuation for Vertical Bridge was disclosed and Pantheon did not acquire control. Pantheon said the digital infrastructure sector had moved from being a niche allocation to a core sub-sector and was benefiting from growth in mobile data consumption, migration to the cloud and the deployment of high-speed networks. Richard Sem, the partner at Pantheon managing the trust, said the firm was pleased to invest alongside a sponsor with DigitalBridge's record in the space and described Vertical Bridge as well placed to capitalise on demand for 5G-enabled services. Vertical Bridge is the largest private owner and operator of tower and wireless communication infrastructure in the United States, and at the time of the transaction its portfolio comprised more than 8,000 towers and 300,000 total sites spread across all fifty states and Puerto Rico. The estate includes towers, rooftops, billboards, utility attachments and other locations that support wireless network connectivity. The company was founded in 2014, is headquartered in Boca Raton, Florida, and in 2020 became the world's first tower company to be certified carbon neutral. Pantheon classified the holding in the digital infrastructure segment of the trust's portfolio, where it was valued at 25.9 million pounds at 31 December 2024.
Nov 2014Undisclosed stageTJC; Stonepeak; Goldman Sachs Asset Management; DigitalBridge Group$1BVertical Bridge Holdings, founded in 2014, is the largest private owner and operator of wireless communications infrastructure in the United States. The company owns or master-leases more than 308,000 sites, including over 8,000 owned and master-leased towers and the nation's largest collection of broadcast tower sites spread across all 50 states and Puerto Rico. In its founding year, Vertical Bridge completed 23 acquisitions by year-end 2014 and secured $750 million in total equity commitments through its second capital raise, with investors including Digital Bridge Holdings, The Jordan Company, GS Infrastructure Partners, and Stonepeak Infrastructure Partners, alongside a $270 million senior credit facility. In 2021, DigitalBridge completed an acquisition of a controlling stake in Vertical Bridge from Goldman Sachs Asset Management (Jordan Company) and Stonepeak, positioning the company to capitalize on 5G infrastructure investment and telecommunications growth, with organic growth projections of 6-7% for 2021 and plans to build 360+ tower sites that year.

Who has invested in Vertical Bridge Holdings?

7 investors have backed Vertical Bridge Holdings across its funding rounds, including DigitalBridge Group, KKR, Goldman Sachs Asset Management, La Caisse, Stonepeak and TJC.

Lead investors include KKR and DigitalBridge Group.


Vertical Bridge Holdings Investors

Investors in Vertical Bridge Holdings by funding rounds participated
InvestorHQRoundsRoleFirst check
DigitalBridge GroupUnited StatesBoca Raton, FL3LeadNov 2014
KKRUnited StatesNew York City, NY1LeadApr 2026
La CaisseCanadaMontreal1ParticipantApr 2026
TJCUnited StatesNew York City, NY1ParticipantNov 2014
Pantheon VenturesUnited KingdomLondon1ParticipantApr 2022

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Vertical Bridge Holdings

Vertical Bridge Holdings has acquired 3 companies to date.

Last acquisition by Vertical Bridge Holdings was on November 23rd 2020. Vertical Bridge Holdings acquired Eco-Site for $450M.


Latest Acquisitions by Vertical Bridge Holdings

Eco-Site
CIG Wireless
Liberty Towers
Description
-
CiG Wireless is a US-based owner-operator of wireless infrastructure leasing antenna space on multi-tenant towers and rooftops to carriers like AT&T, Verizon, and T-Mobile. The company maintains over 100 sites in secondary markets including Florida and the Midwest under long-term master lease agreements.
-
HQ CountryUnited StatesUnited States-
HQ City
-
Atlanta, GA
-
Deal Date23 Nov 202025 Mar 20151 Jan 2015
Valuation$450M$143Mundisclosed
EV/Revenue
EV/EBITDA

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Vertical Bridge Holdings Competitors

Vertical Bridge Holdings competitors include listed companies like Dalekovod, Inti Bangun Sejahtera and Shentel, and private ones like Aecon Utilities Group, FirstEnergy Transmission and Aerospace Yuxing.

Public and private companies comparable to Vertical Bridge Holdings
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
DalekovodCroatiaCroatiaPublicly listed$320M$20M$698M-
Aecon Utilities GroupCanadaTorontoPrivate-$80M$750M-
FirstEnergy TransmissionUnited StatesAkron, OHPrivate$1.9B-$12B6.3x
Aerospace YuxingChinaBeijingPrivate--$707M-
Inti Bangun SejahteraIndonesiaIndonesiaPublicly listed$49M$46M$642M-
ShentelUnited StatesUnited StatesPublicly listed$358M$115M$634M3.9x

Vertical Bridge Holdings Public Comps

Vertical Bridge Holdings is no longer listed, but its public comps include Dalekovod, Inti Bangun Sejahtera, Shentel, General Fusion, ITG, Channel Infrastructure NZ, Adtran, EuroTeleSites, Hexatronic Group and RailTel Corporation.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Dalekovod$320M$20M2.0x-32.3x-
Inti Bangun Sejahtera$49M$46M13.6x-14.4x-
Shentel$358M$115M4.0x3.9x12.4x11.0x
General Fusion-($25M)--(28.3x)-
ITG$1.2B$112M1.3x-13.2x-
Channel Infrastructure NZ$78M$54M13.0x11.7x19.1x17.1x
Adtran$1.1B$79M1.0x0.9x13.4x8.5x
EuroTeleSites$318M$272M6.9x6.6x8.1x7.8x

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Common questions about Vertical Bridge Holdings

When was Vertical Bridge Holdings founded?Vertical Bridge Holdings was founded in 2014.
Where is Vertical Bridge Holdings headquartered?Vertical Bridge Holdings is headquartered in Boca Raton, FL, United States.
Is Vertical Bridge Holdings publicly listed?No, Vertical Bridge Holdings was acquired by DigitalBridge Group in August 2021.
Who acquired Vertical Bridge Holdings?Vertical Bridge Holdings was acquired by DigitalBridge Group in August 2021.
How much was Vertical Bridge Holdings acquired for?Vertical Bridge Holdings was acquired for $700M in August 2021.
How much funding has Vertical Bridge Holdings raised?Vertical Bridge Holdings has raised $2.5B across 3 funding rounds.
What was Vertical Bridge Holdings' last funding round?Vertical Bridge Holdings' last funding round was a $1.5B undisclosed-stage round in April 2026, led by KKR.
Who are Vertical Bridge Holdings' investors?Vertical Bridge Holdings' investors include DigitalBridge Group, KKR, La Caisse, TJC, Pantheon Ventures, Stonepeak and Goldman Sachs Asset Management.
Which companies are comparable to Vertical Bridge Holdings?Companies comparable to Vertical Bridge Holdings include Dalekovod, Aecon Utilities Group, FirstEnergy Transmission, Aerospace Yuxing, Inti Bangun Sejahtera and Shentel.
How many companies has Vertical Bridge Holdings acquired?Vertical Bridge Holdings has acquired 3 companies, including Eco-Site, CIG Wireless and Liberty Towers.
What was the largest acquisition by Vertical Bridge Holdings?The $450M acquisition of Eco-Site in November 2020 is the largest acquisition Vertical Bridge Holdings has made to date.

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