Highline buys PTB in major Brazilian tower deal

Details: Vaughan O'Grady; Category: Business; 25 November 2020; 5405 views

A transaction that will create one of the largest independent tower companies in Brazil has been announced by digital infrastructure investment firm Digital Colony.

Digital Colony has announced that its portfolio company, Highline do Brasil, an infrastructure solutions provider for the telecommunications industry, has signed a definitive agreement to acquire Phoenix Tower do Brasil (PTB) from funds managed by Blackstone Tactical Opportunities.

PTB is described as one of Brazil’s leading independent telecommunications infrastructure providers and is also a leading developer of small cell and distributed antenna systems in the country.

This acquisition will add 2,500 new sites to Highline’s portfolio of digital communication infrastructure assets, significantly increasing its footprint in the region and positioning the company as one of the largest privately owned tower and small cell companies in Brazil. In fact, following the transaction, Highline will own more than 3,200 sites across its portfolio.

Steven Sonnenstein, managing director at Digital Colony, refers to Brazil as one of the fastest-growing and most dynamic telecommunications markets in the region, and says, “There are significant digital infrastructure investment opportunities in Brazil, and this acquisition will augment Highline’s ability to meet the increasing need for telecom infrastructure as our wireless carrier partners continue to densify their networks to keep up with the rapid growth in data consumption.”

It’s been a busy year for Highline in the Brazilian market. It’s arguably a front-runner in the long-awaited auction of mobile operator Oi Movel and was itself acquired in late 2019 by Digital Colony Partners.