Yondr Group has agreed a deal to sell a majority interest in one of its UK data centre campuses to UK investment fund GLIL Infrastructure (GLIL) for an undisclosed price.
The asset comprises two fully operational hyperscale data centre buildings located in Slough. Yondr will retain a minority ownership interest in the asset and continue to be responsible for its operational management following completion of the transaction.
Aaron Wangenheim, chief executive officer of Yondr, said: “This transaction represents another important milestone in Yondr’s long-term growth strategy. Bringing GLIL on board as an investment partner allows us to realise value from a high quality, stabilised asset while remaining invested in its future and continuing to operate the campus on behalf of our customer.
Lee Belfield, investment director at LPPI and GLIL Infrastructure, added: “Digital infrastructure is increasingly fundamental to the UK’s economy, and hyperscale data centres are critical to supporting growing demand for cloud services and artificial intelligence. This investment reflects GLIL’s strategy of partnering with high quality operators to invest in essential infrastructure that delivers resilient, long-term value for our pension fund members. Yondr has developed a high quality asset with a strong operational track record and we look forward to commencing a long-term partnership with the Yondr team.”
RBC Capital Markets served as Yondr’s exclusive financial adviser, and Linklaters acted as legal counsel. Nomura served as GLIL’s exclusive financial advisor with Simpson Thacher & Bartlett acting as legal counsel.
