Teraco confirms Berkshire Partners is its new owner

Teraco Data Environments has confirmed that Berkshire Partners, a Boston-based investment firm, has entered into an agreement to acquire a majority stake in the company.

“The Permira funds, an existing shareholder, will remain a significant investor,” said Teraco.

It stated that the Permira funds initially backed a Teraco management buyout in December 2014 and in that time the business has multiplied its capacity more than six times.

“The company operates five high-quality facilities with 30MW of critical power load serving more than 450 clients, including global Internet companies, across five core ecosystems. It also hosts the continent’s largest Internet Exchange Point, NAPAfrica.

Jan Hnizdo, Managing Director of Teraco, said Berkshire Partners is a “like-minded and committed long-term partner that shares our vision for the future: to continue to invest in world-class data centre facilities”.

“Over the next few years, we aim to double our installed critical power load from 30MW to 60MW and we look forward to working closely with Berkshire Partners on this ambitious growth journey,” said Hnizdo.

Lex Van Wyk, Chief Executive Officer of Teraco, added that Berkshire Partners has prior experience investing in data centres and “appreciates the business that we have built”.

“We are delighted to welcome them as our new majority shareholder.”

The transaction is subject to regulatory approval and the customary closing conditions. It is expected to close in the first quarter of 2019.

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Teraco confirms Berkshire Partners is its new owner