"We have invested over $100 million already and will continue our rapid growth in partnership with Digital Bridge, The Jordan Company and Edgewater” said Alexander L. Gellman, CEO and Co-Founder of Vertical Bridge.
Boca Raton, FL (PRWEB) September 08, 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.
“Vertical Bridge has secured significant additional capital to fund our M&A, new tower development and operational needs. We have invested over $100 million already and will continue our rapid growth in partnership with Digital Bridge, The Jordan Company and Edgewater” said Alexander L. Gellman, CEO and Co-Founder of Vertical Bridge. Committed capital includes significant new commitments from The Jordan Company, The Edgewater Funds and additional capital from Digital Bridge Holdings, LLC, which led the fund raising process on behalf of Vertical Bridge through its Digital Bridge US Tower Holdings subsidiary.
Marc Ganzi, CEO of Digital Bridge commented: “This investment marks Digital Bridge’s third investment in telecommunications infrastructure this year. We are excited about working with the Vertical Bridge team, many of whom are GTP veterans and have two decades of a proven track record of success in the sector. We are very bullish on the US tower space and feel that the VB team is well positioned to assist our wireless carrier partners in the deployment of their future network needs.”
Eion Hu, Senior Partner at The Jordan Company, added: “We are delighted to partner with the Digital Bridge and Vertical Bridge teams. We see a long term capital formation opportunity in the U.S. tower market, and the opportunity to invest in Vertical Bridge fits our investment thesis of backing best in class management teams in high growth sectors.”
Vertical Bridge also announced that it has closed on a $270 million dollar senior credit facility led by TD Securities and Deutsche Bank as part of this recent round of capital formation.
About Vertical Bridge Holdings, LLC.
Vertical Bridge Holdings is a privately-owned tower company in the US headquartered in Boca Raton, Florida. The company focuses on owning, operating, and managing telecommunications towers, rooftops, and site locations across the country. Vertical Bridge was founded in 2014 by Digital Bridge Holdings, LLC as well as certain key executives from Global Tower Partners. For more information please visit http://www.verticalbridge.com or call: Traci Clancy at 561-948-6367.
About Digital Bridge Holdings, LLC
Digital Bridge Holdings, is a communications infrastructure platform based in Boca Raton, Florida. It was formed in 2013 through a partnership between Ben Jenkins (formerly of The Blackstone Group) and Marc Ganzi (former founder and CEO of Global Tower Partners). Digital Bridge owns interests in a broad range of communications infrastructure companies. It is dedicated to long-term value creation through the active management of its companies and strong alignment with its investor partners. Digital Bridge manages investments on behalf of institutional, corporate, endowment and family offices around the world. More information may be found at http://www.digitalbridgellc.com.