Infrastructure manager Ancala has acquired 300 telecom towers from Phoenix Towers International (PTI) in Ireland.

The acquisition was part of a divestment from PTI, which acquired Cellnex’s Irish business for €971 million ($1.1 billion) in February.

Financial terms of the deal were not disclosed by Ancala.

According to Ancala, the acquisition is part of its investment plans for its new tower platform, TorLoc Towers.

“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,” said Tim Power, partner, Ancala.

“Ireland’s telecom tower market, which is underpinned by rising demand for reliable, high-speed mobile network coverage, 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.”

PTI’s sale of the 300 towers was part of an agreement with Ireland’s Competition and Consumer Protection Commission (CCPC) to buy Cellnex’s Irish assets.

That deal saw PTI snap up around 1,900 towers from Cellnex, meaning it will have around 1,600 towers now.

“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,” added Dagan T. Kasavana, chief executive officer, Phoenix Tower International.

“Ancala’s record of investment, flexibility, bespoke structuring, and experience in delivering complex carve-outs was critical in our decision to select them.”

Ancala has previously invested in and subsequently exited Fore Freedom, an independent developer, owner, and operator of fiber networks across the Netherlands.