CVC DIF to acquire SBA Communications’ Canadian tower business, a leading wireless tower infrastructure platform in Canada
- Established in 2009, SBA Communications’ Canadian tower business represents one of the largest independent wireless tower portfolios in Canada.
- Long-term contracted tower portfolio, strategically located across key urban, suburban and rural markets.
CVC DIF, the dedicated infrastructure investment strategy of global private markets manager CVC, today announced it has signed a definitive agreement to acquire SBA Communications’ Canadian wireless tower business (“SBA Canada”), a leading independent owner and operator of wireless communications towers across Canada. The transaction is expected to close during the fourth quarter of 2025, subject to customary regulatory approvals and closing conditions. The investment in SBA Canada will be made through DIF Infrastructure VIII.
Established in 2009, SBA Canada represents one of the largest independent wireless tower portfolios in Canada, owning and operating a diversified portfolio of approximately 500 owned and managed wireless communication sites strategically located across high-growth urban, suburban and rural markets. The Company’s portfolio is underpinned by long-term contracts featuring escalation mechanisms and long-duration site control. SBA Canada plays a prominent role in supporting the expansion of next generation 5G and broadband networks for Canadian mobile network operators and connectivity providers.
Tom Goossens, Partner and Co-Head of the DIF Infrastructure fund strategy at CVC DIF, commented: “The acquisition of SBA Canada represents a significant investment in critical digital mobile tower infrastructure. SBA Canada’s diversified high-quality tower portfolio, long-term customer relationships and proven development capabilities make it a valuable addition to CVC DIF’s fund portfolio. We look forward to supporting the Company’s continued growth and helping to accelerate connectivity across Canada.”
Brendan Cavanagh, Chief Executive Officer of SBA Communications, added: “This transaction aligns with our long-term strategic goal of focusing on our core markets, while realizing substantial value for this unique set of assets in Canada and allowing us to reinvest proceeds for the benefit of our shareholders.”
CVC DIF is advised by TD Securities (financial advisor), Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. (legal advisor), EY-Parthenon (commercial advisor), Leo Berwick (financial and tax advisor), Saras Partners (technical advisor) and Arcadis (environmental advisor).
About CVC DIF
CVC DIF (formerly DIF Capital Partners) is a leading global mid-market infrastructure equity fund manager.
Founded in 2005 and headquartered in Amsterdam, the Netherlands, CVC DIF has c. €19 billion of infrastructure assets under management in energy transition, transport, utilities and digitalisation.
With over 250 people in 12 offices, CVC DIF offers a unique market approach, combining a global presence with the benefits of strong local networks and sector-focused investment capabilities.
CVC DIF forms the infrastructure strategy of leading global private markets manager CVC. This partnership allows CVC DIF to benefit from CVC’s global platform, with 30 offices across five continents.
About SBA Communications Corporation
SBA Communications Corporation (“SBA”) is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 44,000 communications sites throughout the Americas and in Africa, SBA is listed on NASDAQ under the symbol SBAC. Our organization is part of the S&P 500 and one of the top Real Estate Investment Trusts (REITs) by market capitalization.
For more information, please visit www.sbasite.com.
Press contacts
CVC DIF
Nick Board
Tel: +44 (0) 20 7420 4200
H/Advisors Maitland (for CVC DIF)
Finlay Donaldson
Tel: +44 (0) 7341 788 066
SBA Communications
Maria Alexandra Velez
Tel: +1 561 981 7352