Morrison & Co (representing Infratil) on its investment in Kao Data
Torch Partners has acted as exclusive financial adviser to Morrison & Co (representing Infratil) on its investment of up to £130 million of growth capital in Kao Data, a London data centre business powered by 100% renewable energy. Infratil will acquire a 40% stake, becoming the largest individual shareholder alongside current owners, Legal & General Group and Goldacre, founder of Kao Data and part of Noé Group, who each retain a 30% stake in the joint venture.
Infratil, together with Legal & General Group and Goldacre, intend to build Kao Data into a £500 million multi-site data centre platform in the medium term. Kao Data owns a 15-acre data centre campus in Harlow, north of London. Kao Data has built one data centre on that campus, with construction of a second to begin this financial year. Once fully developed, the campus will be home to four energy efficient data centres, all powered by 100% renewable energy.
Kao Data has also recently signed an agreement to acquire two UK prime location data centres with a long-term anchor lease from a large financial services business. This purchase will enable Kao to deliver multi-site services for its clients and expand potential capacity to c.55MW across all sites, while delivering long-term trusted operations for clients' mission-critical infrastructure. The transaction is expected to close in the fourth quarter of 2021.
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