Apollo, investing through its infrastructure funds, is acquiring Stack Infrastructure’s European colocation business, which owns seven data centres.
Apollo is investing an unspecified sum to buy the assets in Stockholm, Oslo, Copenhagen, Milan and Geneva in a carve-out transaction from the Blue Owl Digital Infrastructure Advisors portfolio company.
Adam Petrie, partner at Apollo, said: “We are strong believers in the fundamental tailwinds behind the demand for data centre infrastructure. In particular, we believe high-quality, interconnected colocation businesses with differentiated value propositions, like [this] company’s, offer an attractive, secular growth opportunity for the long-term.
“We are very excited to partner with [the CEO] and his team in taking this business to the next level and expanding its presence across Europe.”
John Eland, CEO, Stack EMEA, said: ”The strategic creation of the colocation business unit enabled us to support the specialised requirements of the hyperscale sector, whilst also enabling our colocation experts to deliver exclusively on the needs of the enterprise sector.
“As Stack EMEA evolves to focus primarily on hyperscale clients, this transaction solidifies our commitment to hyperscale data centre development and operations whilst our former enterprise colocation clients will continue to receive the highest standard of performance and support from dedicated experts.”
Sherif Rizkalla, CEO of the acquired company, said: “We are delighted to partner with Apollo to accelerate growth of our business as a new, standalone company.
“Leveraging Apollo’s expertise in infrastructure, significant access to resources and support, we believe we are extraordinarily well-positioned to capitalise on our industry’s tailwinds and bring even more value to our customers, employees and other stakeholders.”
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