Cignal acquired by Cellnex Telecom
Irish telecoms infrastructure company Cignal has been acquired by Cellnex Telecom. Financial terms of the deal have not been disclosed.
Cignal’s management team and staff will continue to run the business under the Cignal name in Ireland as part of the Cellnex Telecom Group.
In 2015, Cignal acquired 300 tower locations from Coillte. It has since significantly expanded its portfolio through a series of acquisitions and site developments. Currently, it owns 547 telecoms tower sites across the country.
Cellnex will invest €60 million to build up to 600 new sites by 2026. In doing so, it will help Cignal to provide the necessary infrastructure to support the improvement and availability of high-speed wireless broadband in rural areas, and to help mobile phone operators to address coverage blackspots.
The wireless telecommunications and broadcasting infrastructure operator has 45,000 towers located throughout Spain, Italy, Netherlands, France, Switzerland, and the UK.
Cignal’s majority shareholder was private equity firm, InfraVia, which specialises in the infrastructure sector.
Donal O’Shaughnessy, chairman, Cignal, said: “We are very pleased to announce the sale of the business to Cellnex Telecom in a deal which recognises the hard work and investment that has helped grow the business since it was founded in 2015 with the backing of Infravia Capital Partners, who have been hugely supportive of the team.
“With Cignal, we are acquiring the leading independent telecommunications infrastructure operator in Ireland, and benefitting from its professional and experienced management team,” Tobias Martínez, CEO of Cellnex said.“We are also committing to consistent growth in Europe, incorporating a seventh market, and working with customers to whom we already offer service in other countries.”