Ancala acquires Irish telecom tower portfolio

PTI’s divestment was mandated by the Competition and Consumer Protection Commission (CCPC) in connection to its acquisition of Cellnex Telecom’s business in Ireland, which completed in February 2025.

The portfolio forms a cornerstone investment for Ancala’s new tower platform, TorLoc Towers. The platform has assumed the existing customer contracts and will continue to serve mobile network operators (MNOs) and other clients, including emergency services, rural broadband providers and private enterprise networks.

TorLoc Towers aims to become a leading independent tower platform in Ireland and a trusted partner of choice to its clients. Ancala intends to grow the platform organically and through complementary acquisitions.

Tim Power, Partner, Ancala, comments:

“TorLoc Towers represents Ancala’s first investment in Ireland and aligns with our strategy of investing in businesses with traditional infrastructure characteristics with opportunities to create value through active asset management.

“Ireland’s telecom tower market, which is underpinned by rising demand for reliable, high-speed mobile network coverage1, continues to offer strong growth opportunities for an independent platform such as TorLoc. We look forward to partnering with Ireland’s MNOs and other providers of wireless telecoms as they expand and enhance connectivity nationwide.”

Dagan T. Kasavana, Chief Executive Officer, Phoenix Tower International, comments:

“It was essential that we found an owner and operator of these tower sites, that we are transferring pursuant to the commitments with the CCPC, with a clear track record managing essential infrastructure. Ancala’s record of investment, flexibility, bespoke structuring and experience in delivering complex carve-outs was critical in our decision to select them.”

This transaction represents Ancala’s second investment in digital infrastructure businesses with traditional infrastructure characteristics. The firm successfully invested in and subsequently exited Fore Freedom, an independent developer, owner and operator of fibre networks across the Netherlands, following an acquisitive and organic value creation strategy.

It is also another successful corporate carveout for Ancala and follows the complex carve-out of Europe’s largest emergency aerial services operator Avincis from Babcock International Group plc in 2023.

Financial details of the transaction are undisclosed.

References

1. Ireland’s Commission for Communications Regulation Q1 2025 Update