The Carlyle Group Enters into Agreement to Sell Itconic to Equinix for €215m
Madrid, Spain — Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced it has agreed to sell Itconic, one of the largest carrier-neutral datacentre, connectivity and cloud infrastructure solutions provider in Iberia, to Equinix, Inc. (Nasdaq: EQIX), the global interconnection and data center company, for €215m. The agreement was signed on September 8, 2017, and the acquisition is expected to close in Q4 2017, subject to regulatory approvals.
The Carlyle Group acquired Itconic in 2015 through Carlyle Europe Technology Partners III, a €657m fund focused on European technology, media and telecommunications (TMT) companies. By partnering with Faustino Jiménez, CEO of Itconic, and the rest of the management team, Carlyle has supported the business to become one of the largest carrier-neutral datacentres and cloud connectivity ecosystems in Iberia.
During Carlyle’s ownership, Itconic has invested heavily in expanding capacity and connectivity in its five data centres. This included the launch of Itconic’s new interconnection network, which turned its five data centres into a single platform, Iberconnect, as well as the launch of the Itconic Cloud Connect solution to provide direct private connections from Iberconnect into Amazon Web Services (AWS), Microsoft Azure and Google Cloud.
Additionally, Itconic has welcomed Espanix and DE-CIX to the Iberconnect platform. Following the acquisition of CloudMas in 2016, Itconic is also now a prominent player in enterprise hybrid cloud infrastucture solutions in Iberia, partnering with AWS, Azure and Google Cloud to support businesses as they transition to a modern hybrid cloud environment.
Fernando Chueca, Managing Director, Carlyle Europe Technology Partners team, said, “Itconic is a great example of Carlyle’s ability to drive value creation through a focus on technology fundamentals and partnering with high quality management teams. The acquisition of Itconic by Equinix is a confirmation of the original investment thesis that Itconic was a differentiated technology asset that could benefit from improved strategic focus and additional technology investment.”
Faustino Jimenez, CEO of Itconic, said, “The Carlyle Group has been a fantastic partner for Itconic and its management team over the last two years as we have restablished our technology leadership within the Iberian peninsula. The acquisition by Equinix provides the business and management with a phenomenal opportunity to continue delivering best-in-class data center, connectivity and cloud infrastructure solutions to its customers in Iberia as part of a global provider with 182 data centers in 44 markets.”
Itconic is the first exit for CETP III, a 2015 vintage fund. Torch Partners, Garrigues and Ernst & Young advised Itconic on the transaction.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $170 billion of assets under management across 299 investment vehicles as of June 30, 2017. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,550 people in 31 offices across six continents.
Equinix, Inc. (NASDAQ: EQIX) connects the world’s leading businesses to their customers, employees and partners inside the most interconnected data centres. In 44 markets across five continents, Equinix is where companies come together to realise new opportunities and accelerate their business, IT and cloud strategies. www.equinix.com.
Itconic is the Iberian Neutral Data Center, Connectivity and Cloud infrastructure solutions provider, with over 20 years’ experience in Spain and Portugal. Itconic enables customers to move forward with their digital transformation process, helping them to connect to the rest of the world as efficiently and flexibly as possible.
The Carlyle Group:
Tel: +44 (0) 207 894 1632