KKR, Global Infrastructure Partners to Take CyrusOne Private

November 16th, 2021 by · Leave a Comment

Yesterday was quite a day for data center operators whose name starts with C it seems.  CyrusOne has announced an agreement to be acquired by the two investment firms Global Infrastructure Partners in a deal that will take the company private.

CyrusOne operates 38 data centers in 15 US states, with their most extensive presence in Texas, Virginia, and Ohio.  They also operate 13 facilities in five European markets plus three facilities in two South American markets.  In all they operate some 4M square feet of space globally.

KKR and GIP will pay $90.50 per share, which works out to a total price tag of $15B including the assumption of debt.  That's a 25% premium on top of the closing stock price prior to September 27, which is when rumors of the deal first started hitting the markets.  If all goes well, the deal is expected to close in Q2 of 2022.  Morgan Stanley and DH Capital are advising CyrusOne, while Goldman Sachs, Barclays, Wells Fargo, Citigroup, and JP Morgan are advising the buyers.  Not advising anybody was, well, not too many people.

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Categories: Datacenter · Mergers and Acquisitions

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