LK Shields was delighted to advise InfraVia Capital Partners on the sale of Cignal to IBEX 35-listed Cellnex Telecom Group.
Cignal is Ireland’s newest communications infrastructure provider and was created by the acquisition of the extensive Coillte telecoms portfolio in September 2015. Since its creation, Cignal has expanded its portfolio through acquisitions and investing in the development of new site locations. It currently owns 546 telecoms tower sites across Ireland. Cignal’s management team will continue to run the business, under the Cignal name, as part of the rapidly growing Cellnex Telecom Group.
Cellnex is Europe's leading operator of wireless telecommunications and broadcasting infrastructure with an existing portfolio of over 45,000 tower sites in Spain, Italy, Netherlands, France, Switzerland, and the United Kingdom. Cellnex is committed to building a further c.600 new tower sites in Ireland by 2026, helping Cignal to continue its mission of providing the necessary infrastructure supporting the improvement and availability of high-speed wireless broadband in rural areas. In doing so Cignal will continue to address the objectives of the Mobile Phone and Broadband Taskforce established by the Irish Government in 2016 to identify solutions to broadband and mobile phone coverage deficits across Ireland.
The LK Shields' team was led by Corporate partner David Brangam with assistance from Gerry Halpenny (Corporate), James Byrne (Corporate), Gillian Dully (Corporate), Andrew Power (Banking) and Peter O’Reilly (Property).