Yondr agrees deal for its UK hyperscale data centre

Author: Joe Peck

Yondr Group, a global developer, owner, and operator of hyperscale data centres, has agreed to sell a majority stake in one of its UK hyperscale data centre campuses to GLIL Infrastructure, retaining a minority ownership interest and the responsibility for operating the site.

The transaction involves a campus in Slough comprising two operational hyperscale data centre buildings serving a hyperscale customer. Financial terms were not disclosed.

Yondr says the agreement enables it to realise value from a completed asset whilst continuing to manage its day-to-day operations and retain a long-term interest in the campus.

Aaron Wangenheim, Chief Executive Officer at Yondr, says, “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.”

Investment expands digital infrastructure portfolio

For GLIL Infrastructure, the acquisition adds to its digital infrastructure investments, which include a stake in Cornerstone, the UK’s largest mobile tower company.

Lee Belfield, Investment Director at LPPI and GLIL Infrastructure, notes, “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.”

The transaction is expected to complete in the coming months, subject to customary closing conditions and regulatory approvals.

RBC Capital Markets acted as Yondr’s financial adviser, with Linklaters providing legal advice. GLIL Infrastructure was advised by Nomura, with Simpson Thacher & Bartlett acting as legal counsel.

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