Yondr Group (Yondr), an owner and operator of hyperscale data center, has agreed to sell a majority stake in one of its U.K. data center campuses to investment fund GLIL Infrastructure LLP, while retaining a minority stake and continuing to operate the site after the deal closes.
The transaction covers two operational hyperscale data center buildings in Slough, England, serving a hyperscale customer and Yondr will continue managing the campus following completion of the sale.
Aaron Wangenheim, CEO, 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.”
The acquisition expands GLIL’s digital infrastructure portfolio, which also includes an investment in Cornerstone, the U.K.’s largest mobile tower company.
Lee Belfield, Investment Director at LPPI and GLIL Infrastructure, said, “Digital infrastructure is increasingly fundamental to the UK’s economy, and hyperscale data centers 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.
The transaction is expected to close in the coming months, subject to customary closing conditions and regulatory approvals. RBC Capital Markets served as Yondr’s financial advisor, with Linklaters LLP acting as legal counsel. Nomura served as GLIL’s financial advisor, with Simpson Thacher & Bartlett LLP acting as legal counsel.