Vantage Data Centers has closed on the acquisition of Next Generation Data, the company which owns the largest data center campus in Europe, a deal which the company first announced in April.
InfraVia Capital Partners and the two founders of NGD sold their stakes in the 750,000-square-foot property. The new owner financed the purchase with an acquisition loan, as well as equity commitments from Digital Colony Partners and other Vantage investors.
Neither party disclosed any details on the sale price. However, last year, The Telegraph reported that Legal & General, a British fund manager, was rumored to be interested in acquiring the facility for approximately $256 million (£200 million), a deal which never materialized. Additionally, InfraVia acquired a controlling interest in the asset for $130 million (£100 million) in 2016.
Located on 50 acres in Newport, South Wales, the carrier-neutral data center came online in 2010 and provides 72 MW of critical power and has the capacity to expand to provide an additional 108 MW. The facility is directly connected to the super grid and powered entirely by renewable energy sources.
RBC, White & Case, Solon and PwC assisted the joint venture sellers in the transaction. Linklaters and PwC represented the buyer.