Dublin headquartered data centre builder Winthrop Technologies has today announced a a strategic partnership with funds managed by Blackstone Tactical Opportunities and affiliated funds.
Financial terms of the deal were not disclosed by the two companies but the deal is believed to be worth about €800m.
Under the terms of the deal, Blackstone will buy a a 50.7% stake in Winthrop Technologies with the remainder of the shares held between its existing shareholders - founder Barry English, Group CEO Anne Dooley and Managing Director Bernard Keane.
Winthrop, which operates across seven European markets, said today's deal will accelerate its growth trajectory and will allow it to capitalise on the ongoing demand for data centres.
It added that the exponential growth in data driven by the AI revolution and increasing cloud adoption are two major trends powering this explosive growth.
Winthrop Technologies said it will continue to operate under its brand, and its existing leadership will retain a significant minority stake (49.3%), ensuring a continued focus on serving the European data centre market.
Anne Dooley, the chief executive of Winthrop Technologies Group, said today's partnership deal with Blackstone marks a new era of growth for the company.
"This is an investment in the company's leadership, and our team at all levels, who have achieved our strong current market position and will continue to drive Winthrop Technologies into its next phase," the CEO said.
Raphael de Botton, Senior Managing Director at Blackstone, said the industry are at an inflection point where we are seeing once-in-a-generation demand for data centres.
"We believe Winthrop Technologies will be instrumental in powering this digital infrastructure revolution. This transaction is an example of Blackstone’s long-term conviction in investing in this megatrend, and we are excited to partner with Winthrop’s management team as they embark on their next phase of growth," he added.
