Yondr Group has agreed to sell a majority interest in one of its UK data centre campuses to UK investment fund GLIL Infrastructure LLP, in a deal that will see Yondr retain a minority stake and continue to operate the site.
The campus comprises two operational hyperscale data centre buildings in Slough, which the companies described as one of Europe’s most established data centre markets. The site serves a single “leading hyperscale customer”, according to the announcement.
Yondr said it will remain responsible for operational management after the transaction completes. The deal is intended to allow the company to realise value from what it described as a stabilised asset while maintaining an ongoing operational role.
For GLIL, the transaction adds to its digital infrastructure holdings. The fund said its portfolio includes an investment in Cornerstone, which it described as the UK’s largest mobile tower company.
“This transaction represents another important milestone in Yondr’s long-term growth strategy,” said Yondr chief executive Aaron Wangenheim. “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.”
Lee Belfield, investment director at LPPI and GLIL Infrastructure, said: “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.”
The transaction is expected to close “in the coming months”, subject to closing conditions and applicable approvals.
RBC Capital Markets acted as Yondr’s financial adviser, with Linklaters as legal counsel. Nomura advised GLIL, with Simpson Thacher & Bartlett acting as legal counsel.
