Vertical Bridge Completes Strategic Combination with Eco-Site
Combined company now has over 20,000 owned and master leased towers, including over 1,600 recently built towers; Eco-Site Executives Join Leadership Team at Vertical Bridge
BOCA RATON, Fla., Nov. 23, 2020
Vertical Bridge REIT, LLC ("Vertical Bridge" or "the Company"), the largest private owner and operator of communications infrastructure and locations in the United States, today announced the completion of a merger with Eco-Site, a leading developer of wireless communication, tower sites and infrastructure. The combination increases Vertical Bridge's owned and master-leased tower portfolio to over 20,000 sites and its entire portfolio to more than 290,000 sites located in all 50 states and Puerto Rico.
Eco-Site and its team members also complement Vertical Bridge's already-strong team of leasing and development professionals. Eco-Site co-founders Dale Carey, Bob Glosson and Rich Stern are joining the Vertical Bridge executive team. Mr. Carey will serve as Executive Vice President of Strategy and Convergence at Vertical Bridge. Mr. Glosson becomes Senior Vice President of Real Estate Solutions, and Mr. Stern will be Senior Vice President of Real Estate.
"Vertical Bridge and Eco-Site share a proven track record of success in build-to-suit, having collectively constructed well over 1,600 new towers in the last five years alone. This is the highest rate of any company in the market, and a testament to our collective capabilities," said Gellman. "The combination of Vertical Bridge and Eco-Site is truly a case of one plus one equals three, and we are thrilled to welcome Dale, Bob and Rich and their talented team to the Vertical Bridge family. We look forward to working together to continue bringing our fast, friendly and flexible service to customers as they build their 5G networks."
"The wireless sector is significantly different than it was just a few years ago and scale matters more than ever when it comes to being able to meet the evolving needs of our customers," said Carey. "I've known the Vertical bridge team for many years and am excited to work with them under one banner. Vertical Bridge and Eco-Site are both employee-centric, customer-focused and solutions-oriented firms. Together, we will scale faster, bring more opportunities to our customers and reach new milestones as the country's largest private owner and operator of wireless infrastructure."
Gellman added, "As a private, at-scale and permanent company, we have the flexibility and capital to be strategic in our growth model and we will continue to identify opportunities to expand our footprint that fit into our pure tower, pure U.S. strategy."
Financial terms of the private transaction were not disclosed.
About Vertical Bridge
Vertical Bridge REIT, LLC is the largest private owner and operator of communications infrastructure and locations in the United States, with a portfolio of more than 500,000 sites, including over 11,000 owned and master-leased towers and the nation’s largest and tallest collection of broadcast tower sites. The Company’s portfolio spreads across all 50 states and Puerto Rico and is comprised of towers, rooftops, billboards, utility attachments, convenience stores and other locations in support of wireless network deployments. In addition to colocation, Vertical Bridge offers build-to-suit, edge data centers and in-building wireless network solutions.
Based in Boca Raton, Florida, Vertical Bridge was founded in 2014 and is led by a senior management team with over 400 years of collective experience in tower infrastructure and related sectors. Vertical Bridge became the first tower company in the world to achieve the CarbonNeutral® company certified status in 2020 and has been recertified every year since. For more information, please visit www.verticalbridge.com.
Media Contact
Erica Dotterer, Vertical Bridge, (561) 406-4032, EDotterer@verticalbridge.com
Kerri Donner, Stanton, (646) 502-3565, kdonner@stantonprm.com
SOURCE Vertical Bridge
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