On August 6, 2025, Florida-based SBA Communications Corp. has agreed to sell its Canadian wireless tower business to CVC DIF, the infrastructure arm of U.K.-based CVC Capital Partners PLC, for C$446 million. The deal covers one of Canada’s largest independent tower portfolios, with about 500 owned and managed sites across urban, suburban, and rural markets. Expected to close in the fourth quarter of 2025 pending regulatory approvals, the sale reflects SBA’s strategic decision to focus on core markets after limited growth in Canada. SBA’s Canadian tower business generates around US$27 million in annual leasing revenue and US$15 million in post-tax cash flow. CVC DIF’s acquisition is viewed as a significant investment in Canada’s digital infrastructure, supporting the expansion of 5G and broadband networks.

TD Securities acted as financial advisor and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. as legal advisor to CVC DIF, with additional advisory roles filled by EY-Parthenon (commercial), Leo Berwick (financial and tax), Saras Partners (technical), and Arcadis (environmental). Goodmans LLP is advising SBA Communications on the sale.