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New Deal


Announced

Azrieli acquires stake in data centers firm Compass for $135m.

Financials

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Transaction Value£108m
Consideration Type-
Capital Owned-
Capital Bid For20%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Software

Pending

Data Centers and Hosting

data centers

Private

United States

Single Bidder

Private Equity

Synopsis

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Israeli real estate developer Azrieli Group was acquiring 20% of Compass for $135m for its first investment in the North American data centers market.Its major shareholders are Ontario Teachers’ Pension Plan and investment fund Red Bird Capital Partners. Compass has 10 active facilities and three others under construction and development. The company, Azrieli said, generates annual net operating income of $38m and is projected to grow significantly in coming years. “The market is growing significantly worldwide, and we believe it will serve as a growth engine in view of the considerable growth in the global market,” Eyal Henkin, Azrieli’s chief executive.

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