DataBank, a provider of enterprise-class colocation, interconnection and managed services, closed its initial recapitalization led by Swiss Life Asset Management AG (SLAM), EDF Invest (EDF), Northleaf Capital Partners and Ardian. Structured as a sale of ownership interests from existing investors for $1.5 billion, the new investor consortium will now own 35% of the fully-diluted equity interests in DataBank. The new investor group joins DigitalBridge, which remains invested in the company, as committed, long-term investors who will enable DataBank’s aggressive plans for the decade ahead.
Since 2016, DataBank has been developing an ecosystem of interconnection and data center locations in Tier 1 and Tier 2 U.S. metros that it believed would serve as the geographic foundation of a more decentralized, next-generation Internet infrastructure platform. Today, DataBank has more data centers in more metros than any other provider in the U.S. – public or private – with a footprint capable of putting customer workloads within 100 miles of 60% of the U.S. population. The recapitalization will enable DataBank to execute a plan that builds upon this footprint and capitalizes on edge infrastructure growth in the U.S. for the next decade.
“We’re excited to welcome this premier coalition of infrastructure investors to DataBank and know their vote of confidence is validation of DataBank’s strategy,” Raul K. Martynek, CEO of DataBank, said. “We look forward to working with them to build upon our position as the leading colocation and interconnection edge platform and capitalize on a multi-gigawatt opportunity in edge computing.”
Subsequent stages of the recapitalization are expected to result in incremental new investors acquiring ownership interests in DataBank from existing investors prior to the anticipated completion of the recapitalization in the fourth quarter of 2022
DataBank was advised by Goldman Sachs as financial advisor and Proskauer Rose as legal advisors.