Everest Infrastructure completes tower buy from Vertel

04 June 2024

Everest Infrastructure ANZ has completed the acquisition of a nationwide portfolio of tower assets from Vertel, expanding its tower portfolio in Australia.

Financial terms, along with the specific number of tower assets acquired, were not disclosed, although Everest noted that the tower assets included are located throughout New South Wales, Western Australia, and Victoria, complement its portfolio of strategically located assets.

“Everest is pleased to have been selected by Vertel for this transaction,” said Everest Infrastructure Partners ANZ. “This expands Everest’s regional footprint to over 100 locations across Australia. With several thousand communications sites in the pipeline, Everest has established itself as a leading independent tower company serving the infrastructure needs of wireless carriers across Australia.”

“From the outset, Everest offered the most compelling proposition by identifying sites which maximized portfolio valuation,” said Vertel. “We look forward to Everest owning and operating these communications sites going forward, with Vertel continuing to run its own network through these sites.”