Asterion Industrial Partners signs agreement to acquire data center platform from Telefónica
- Following its recent First Closing, Asterion Industrial announces the acquisition of its third Fund investment
- Asterion Industrial commits to acquire a platform of 11 data centers from Telefónica
- Telefónica to remain as the main long-term client of the data center platform
Madrid, May 8th, 2019 – Asterion Industrial Partners, an independent investment management firm focusing on infrastructure investments in Europe, announced today that it has signed a definitive agreement to acquire a portfolio of data centers from Telefónica. The portfolio consists of 29MW of power through 11 state-of-the-art & highly connected data centers, in Spain, USA, Brazil, Mexico, Chile, Peru and Argentina. The data centers mostly have a Tier III or IV certification, representing the highest quality in the reliability benchmark for a data center’s server hosting ability. The carve-out, which values the transaction at €550 million, represents a highly attractive investment in an independent telecoms’ infrastructure platform with a global reach. After recent investments in Proxiserve and the creation of the pan-European Asterion Renewables Platform, the transaction is the third investment for the Asterion Industrial Infra Fund I, offering very solid downside protection through the long-term contract with the anchor tenant, as well as providing several levers for value creation.
Data centers provide mission-critical infrastructure supporting the change in paradigm towards cloud and intelligent computing, which is driving strong growth, uncorrelated with the cycle, particularly across the platform’s geographies where penetration is still at infancy levels. Telefónica’s unique data center portfolio platform, combines a high-quality and geographically diverse asset base with a distinct, long-term contract with the leading telecommunications and cloud operator in these markets.
Asterion Industrial with its pan-European presence and experience in both investment and industrial settings, is broadly focused on the Telecoms, Energy & Utilities and Mobility sectors predominantly in the UK, France, Spain, Portugal and Italy. The industrial approach to value creation is an important attribute to managing the complexity around the core infrastructure framework of the assets.
Jesus Olmos, CEO & Founding Partner at Asterion Industrial Partners, commenting on the transaction said: “we are very pleased to have completed this investment to become Telefónica’s long-term provider in a business that is key to their core activities. It is a unique opportunity to access a high-quality top-tier data center platform which fits well with our target investment profile of the European infrastructure mid-market. We see several ways to further create value post the carve out and intend to apply our industrial approach to continue to position the business within a strongly growing market for data center capacity.”
ABOUT ASTERION INDUSTRIAL PARTNERS
Asterion Industrial Partners is an independent investment management firm focusing on infrastructure investments in the European mid-market. Headquartered in Madrid and with presence in London and Paris, Asterion combines transactional and operational experience with an industrial approach and active asset management within an independent and nimble platform. Asterion aims to promote operational transparency, responsible investment practices, best-in-class governance and a strong culture both for itself and in the companies in which it invests.
The information contained herein is for informational purposes only and does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of an offer to purchase or subscribe for, any securities of Asterion Industrial Infra Fund I, FCR, and is being provided in accordance with rule 135e under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”). The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy interests in Asterion Industrial Infra Fund I, FCR (the “Interests”) or any other security in any jurisdiction and shall, in any circumstance, not constitute an offer, solicitation or sale in the United States or in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful. The Interests have not been and will not be registered under the U.S. Securities Act, or any U.S. state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state and local securities laws. Accordingly, the Interests are being offered and sold (i) in the United States only to qualified investors in accordance with Rule 506 of Regulation D under the U.S. Securities Act and (ii) outside the United States in accordance with Regulation S under the U.S. Securities Act. Although Asterion Industrial Infra Fund I, FCR has no intention to conduct any public offering of the Interests in the United States or to register the Interests under the U.S. Securities Act, any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from Asterion Industrial Infra Fund I, FCR and that will contain detailed information about Asterion Industrial Infra Fund I, FCR, Asterion Industrial Partners, SGEIC, S.A. and management thereof, as well as financial statements.