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Cellnex Telecom
Oakley advises Cellnex on its €210m acquisition of Cignal in Ireland
Sector:
Telecoms
Transaction Type:
Acquisition
Date:
September 2019
Deal Value:
€210m

Oakley Advisory Limited (“Oakley”), the independent corporate finance firm offering specialist advice across the TMT sector, has advised Cellnex Telecom S.A. (“Cellnex”) on the acquisition of Cignal Infrastructure Limited (“Cignal”), the Irish based independent telecommunications infrastructure operator, from InfraVia Capital Partners.

Cignal operates 546 towers sites in Ireland and will roll out up to 600 new additional sites by 2026. Cignal operates an attractive telecom sites portfolio with a current customer ratio of c.2x and has limited overlap with third party sites, enhancing their commercial appeal. It has significantly expanded its portfolio since it was founded following the acquisition of 300 tower locations in 2015.

Through the acquisition of Cignal, Ireland becomes the seventh country in which Cellnex is present. Cellnex is Europe’s leading operator of wireless telecommunications and broadcasting infrastructures with a portfolio of 46,000 sites including forecast roll-outs up to 2027. Cellnex operates in Spain, Italy, Netherlands, France, Switzerland, the United Kingdom and Ireland.

The role for Oakley reinforces its credentials in the telecoms infrastructure space, having advised on deals including fibre, data centres and fixed wireless over the past couple of years. The Oakley team included Chris Godsmark, Anthony Yaneza, Max Gilbert, Oliver Temple and Alexandre Beaudet.

Chris Godsmark, Oakley Managing Partner, commented

“We are delighted to have worked with the Cellnex team on the acquisition of Cignal, in what is an exciting and rapidly changing part of the Telecoms sector. This is another example of our ever-expanding network of relationships with listed businesses and leading private equity firms.”

Tobias Schwender, Head of M&A at Cellnex said,

“We have worked with the Oakley Advisory team from the beginning of the transaction and they have been very attentive through all the stages of the process. We look forward to working with them in the future.”

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