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EQT to acquire Crown Castle's Small Cells Solutions business

1. EQT to acquire Crown Castle's Small Cells Solutions for $4.25 billion. 2. Small Cells Solutions enhances wireless connectivity via 115,000 small cells nationwide. 3. Growing demand for 5G and IoT increases need for network densification. 4. EQT plans to accelerate Crown Castle's growth using its digital infrastructure expertise. 5. Transaction expected to close in the first half of 2026, pending regulatory approval.

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FAQ

Why Bullish?

The strategic acquisition aligns with growing demand for digital infrastructure, likely enhancing CCI's market position, similar to past successful acquisitions by EQT in similar sectors.

How important is it?

The acquisition greatly influences CCI's strategic positioning and growth trajectory, making it highly relevant.

Why Long Term?

The acquisition aims to strengthen CCI's capabilities over several years, akin to previous industry consolidations that led to sustained growth.

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CCIZayoEQT
Crown Castle's Small Cells Solutions business builds and operates small cells nationwide, serving mobile densification needs for cellular carriers Transaction highlights EQT's active ownership approach by acquiring an attractive, stable core infrastructure platform targeting a substantial market opportunity EQT will aim to further accelerate the Company's future growth ambitions  , /PRNewswire/ -- EQT is pleased to announce that the EQT Active Core Infrastructure fund ("EQT")" has entered into a definitive agreement to acquire Crown Castle Inc.'s ("Crown Castle") (NYSE: CCI) Small Cells Solutions business (the "Company") in a transaction valuing it at approximately $4.25 billion. Crown Castle's Small Cells Solutions business is a leading builder and operator of digital infrastructure, specializing in the deployment of small cell networks that enhance essential wireless connectivity. The Company operates a nationwide portfolio of approximately 115,000 small cells on air or under contract spread across 43 states, serving the top three U.S. mobile network operators. The Company plays an important role in providing capacity for high-demand areas lacking macro towers through its extensive network of small cells.   The increasing demand for bandwidth-intensive activities, driven by the proliferation of 5G, IoT, AI, and other emerging technologies, is accelerating the need for network densification. The Company is well-positioned to capitalize on these underlying digitization trends, providing turnkey services that enable carriers to expand coverage, improve network efficiency, and meet growing global mobile data traffic demands.  "Small cell networks are an essential part of the digital infrastructure ecosystem," said Alexander Greenbaum, Partner and Head of EQT's Active Core Infrastructure Advisory team. "This investment is a natural fit within EQT Active Core Infrastructure's strategy - investing behind long-term contracted, core infrastructure assets with strong growth potential. With EQT's deep experience in digital infrastructure and active approach to value creation, we see significant opportunity to support the Company's continued growth."  "Crown Castle's Small Cells Solutions business is a platform at the heart of the next generation of digital infrastructure, enabling essential digital connectivity that will help power the future," said Nirav Shah, Partner within EQT's Infrastructure Advisory team. "With its significant scale, operational excellence, and deep carrier relationships, the Company is poised to benefit from positive digital tailwinds. We look forward to partnering with the business to help fuel its next phase of growth, drive cutting-edge innovation, and support the long-term expansion of critical digital infrastructure."  With a strong foundation of long-term contracts, operational expertise, and deep-rooted carrier relationships, the Company has firmly established itself as a partner of choice in the U.S.  EQT will support the Company through its next phase of growth by leveraging its global scale and significant experience within the digital infrastructure space to strengthen its asset base and further deepen its relationships with leading mobile network operators.  Transaction Details  As part of the transaction, the EQT Active Core Infrastructure fund will acquire Crown Castle's Small Cells Solutions business, while Zayo, backed by the EQT Infrastructure IV fund and Digital Bridge, will independently acquire Crown Castle's Fiber Solutions business, as communicated in a separate transaction announcement today. Concurrent with the acquisitions, Zayo and the Small Cells business will enter into a long-term commercial agreement whereby Zayo will provide fiber to the Small Cells business. The total combined value of the Fiber Solutions and Small Cells transaction is $8.5 billion. The transaction is expected to close in the first half of 2026, subject to regulatory review and other customary closing conditions. TD Securities served as sole financial advisor and Kirkland & Ellis as legal advisor to EQT in connection with the transaction. Contact EQT Press Office, [email protected] This information was brought to you by Cision http://news.cision.com https://news.cision.com/eqt/r/eqt-to-acquire-crown-castle-s-small-cells-solutions-business,c4118770 The following files are available for download: SOURCE EQT WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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