US Cellular has agreed to sell 595 mobile towers to Vertical Bridge Holdings in a deal worth US$159 million, it announced on Thursday.

The towers are located in metro areas in markets previously divested by US Cellular, the telco said.

"We will use the proceeds from the sale of these non-strategic assets to invest in other long-term investments that position US Cellular for future growth opportunities," the company's president and CEO Kenneth Meyers said, in a statement.

He did not elaborate on those future opportunities.

"Vertical Bridge is excited to acquire this portfolio of towers in large metropolitan markets," said Alexander Gellman, CEO of Vertical Bridge.

"Many of these sites are in locations that would be very difficult to replace," he added.

Vertical Bridge is a specialist infrastructure company.

The companies expect the deal to close in the first quarter of 2015.