EQT Announces Acquisition of Crown Castle's Small Cells Solutions Business for $4.25 Billion

EQT's Strategic Acquisition of Crown Castle's Small Cells Solutions Business

EQT has officially entered a definitive agreement to acquire the Small Cells Solutions business of Crown Castle for approximately $4.25 billion. This acquisition marks a significant step in EQT's ongoing strategy to enhance its portfolio of core infrastructure assets, highlighting the importance of small cell technology in the evolving telecommunications landscape.

Crown Castle's Small Cells Solutions business is a predominant builder and operator of small cell infrastructures across the United States. With around 115,000 small cells operating or under contract nationwide, this division plays a pivotal role in meeting the increasing wireless demands of major cellular carriers. As mobile data needs escalate—driven by advancements such as 5G, Internet of Things (IoT), and artificial intelligence (AI)—the demand for enhanced network capacity has never been more critical. Crow Castle's small cell networks are integral for ensuring reliable service in high-demand areas where macro towers may not suffice.

EQT aims to leverage this acquisition to foster the Company's growth ambitions in a rapidly changing digital environment. Alexander Greenbaum, a Partner at EQT, emphasized that small cell networks form a crucial component of modern digital infrastructure, underscoring the investment’s alignment with EQT's strategy of investing in long-term contracted assets with robust growth potential.

The investment comes at a time when businesses and consumers alike increasingly rely on high-speed mobile connectivity. Small cell networks like those operated by Crown Castle are designed to enhance coverage and improve network efficiency, addressing the growing demands of global mobile data traffic. Nirav Shah, another Partner within EQT's Infrastructure Advisory team, remarked on the importance of small cell solutions, indicating that EQT's investment will bolster innovation and the expansion of essential digital infrastructure.

As the telecommunications industry continues to undergo significant transformations, the deal positions EQT to play a crucial role in this burgeoning area of digital connectivity. Zayo Group, backed by the EQT Infrastructure IV fund, is also part of this transaction. Zayo will independently acquire Crown Castle's Fiber Solutions business, valuing the total combined transaction at an impressive $8.5 billion. Importantly, this agreement includes a long-term commercial arrangement where Zayo will provide fiber to Crown Castle’s Small Cells business, enhancing operational synergies.

EQT is optimistic about the combined effect of these acquisitions, which is expected to close in the first half of 2026, pending regulatory reviews. With a solid base of long-term contracts and established carrier relationships, Crown Castle's Small Cells Solutions business is positioned to maintain its status as a preferred partner in the U.S. telecommunications sector.

In conclusion, the acquisition will not only support Crown Castle's ongoing development but will also enable EQT to utilize its global scale and experience to further strengthen this vital segment of digital infrastructure. As the telecommunications landscape matures, this strategic move reflects EQT's commitment to investing in innovative, growth-oriented infrastructures that cater to an increasing digital world. Future prospects for both entities appear promising, as they work together to enhance connectivity and user experiences across the globe.