Managed services provider Redcentric is offloading its data centre arm in a deal with an enterprise value of up to \u00a3127m.
\nStellanor Datacenters Group has acquired Harrogate-based centric Data Centres for a cash consideration which implies a 15.1x FY25 EV\/adjusted EBITDA (amended to include property lease payments).<\/p>\n
Recentric said the final consideration will be adjusted for cash, debt, working capital and a series of commercial and property items.<\/p>\n
Chief executive Michelle Senecal De Fonseca said: \u201cWe are pleased to announce the disposal of RDC to Stellanor which is a positive outcome for Redcentric and our shareholders. The completion of the DC sale will allow management to focus squarely on the MSP business which has a very strong brand and market position in both the public and private sectors. I am excited at the prospect of driving revenue and margin expansion in the years ahead, which I am confident we will deliver strong returns and shareholder value.\u201d<\/p>\n
Aparna Narain, partner at DWS Group – Infrastructure Investments, said: \u201cThe acquisition of RDC by Stellanor represents a transformative step in expanding our UK footprint with high-quality, strategically located assets with 23MW of secured grid capacity and a blue-chip customer base. RDC’s well-invested facilities and proven operational excellence align seamlessly with our vision to deliver scalable, secure data centre solutions amid rising demand for edge computing in the UK. We look forward to integrating these operations into Stellanor to drive innovation and superior service for our combined clients.\u201d<\/p>\n
The board estimates the consideration payable will be derived from an adjusted enterprise value ranging from \u00a3115m to \u00a3127m, with Stellanor retaining \u00a35m from the initial payment.<\/p>\n
The deal, which is subject to regulatory approval, is expected to be completed by the end of May.<\/p>\n
Proceeds from the disposal will see capital returned to shareholders, debt reduced and cash set aside for growth opportunities within its managed services provider operations.<\/p>\n","protected":false},"excerpt":{"rendered":"
Proceeds from the disposal will see capital returned to shareholders, debt reduced and cash set aside for growth opportunities within its managed services provider operations<\/p>\n","protected":false},"author":271992,"featured_media":2138484,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53262,2,50204],"coauthors":[137100],"class_list":["post-2145498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-deals","category-technology","tag-featured-story","tag-top-story","tag-yorkshire"],"yoast_head":"\n