Manulife Investment Management (Manulife IM) has announced that it has entered into a definitive agreement to acquire a controlling interest in Serverfarm. The investment by Manulife IM, together with support from existing shareholders, will provide capital to Serverfarm to continue its expansion across north America, Europe, and Israel to capitalise on attractive market opportunities.
Serverfarm currently operates a portfolio of eight data centres across north America, Europe and Israel that aggregate more than 1,500,000ft² and 125MW of IT capacity, and it has secured additional land for future data centre developments.
“Avner and the Serverfarm team have built a high-quality data centre portfolio and growth platform that is well-positioned to capitalise on the strong secular tailwinds in the data centre market,” says Recep Kendircioglu, Global Head of Infrastructure, Manulife Investment Management. “We are excited about the company’s future and our ability to support Serverfarm through its next phase of growth on behalf of our clients.”
“Partnering with Manulife Investment Management, an investor that shares Serverfarm’s vision for growth and customer service, will allow us to effectively address the next wave of demand from our existing and new customers,” says Avner Papouchado, Founder and CEO of Serverfarm. “Our new relationship with Manulife Investment Management provides Serverfarm with additional expertise and new capital to execute on a number of attractive development opportunities and give our customers a long-term growth runway.”
The acquisition is expected to close in the third quarter of 2023 after the satisfaction of customary closing conditions including the receipt of certain regulatory approvals.