ATN International has announced plans to sell a portfolio of 214 Southwestern US towers to Everest Infrastructure Partners for $297 million.

Digital infrastructure and communications services provider ATN, announced that Commnet Wireless, LLC and its subsidiaries have entered into a purchase and sale agreement with an affiliate of Everest Infrastructure Partners as part of the deal.

Castle Rock-based Commnet Wireless is a subsidiary of parent company ATN, and serves several US states including Arizona, California, Colorado, Montana, Nebraska, New Mexico, Nevada, North Dakota, Oregon, Texas, Utah, and Wyoming.

“This transaction allows us to unlock the inherent value of our tower portfolio – an asset built through years of disciplined capital allocation and operational excellence,” said Brad Martin, CEO, ATN.

“Our strategic objective remains unchanged: to build a stronger, more efficient, and resilient ATN that delivers sustainable, long-term value for our shareholders. We plan to use the proceeds to reduce debt, invest in our existing operations, and advance select growth opportunities. This transaction, combined with the operational improvements we have delivered over the past year, enhances our financial flexibility and strengthens our ability to invest in sustainable, long-term value creation."

Founded in 1987, ATN operates across the rural western US and Alaska, plus Bermuda, Cayman, Guyana, and the US Virgin Islands.

The company said it expects the deal to close in the second quarter of this year, noting the transaction will initially generate gross proceeds of approximately $250m to $270m. "Of this initial closing amount, approximately $20m to $35m will be subject to resolution of certain post-closing conditions within twelve months," stated ATN.

Founded in 2015, Everest operates more than 2,500 communications tower sites in the US, Australia, New Zealand, and Portugal. The acquisition is the latest for the company, which acquired 70 telecom towers from Tower Ventures last year.

“This acquisition adds a high-quality portfolio of communications tower assets to our growing US footprint. These towers offer significant additional capacity, and we expect strong future tenant growth across the portfolio," said Mike Mackey, president, Everest.

The company, through its Everest Infrastructure ANZ subsidiary, completed the acquisition of tower assets from Australian telco Vertel in April of last year.

A year earlier, Everest acquired Portuguese tower company Blue Sites Telco. It represented the fourth international market that Everest has invested in after the US, where it's based, along with Australia and New Zealand.

The company also acquired 75 towers from CNS Microwave in 2024.