M&A Deal Summary

PSP Investments, DigitalBridge Group, Silver Lake and Teachers Insurance and Annuity Association of America Acquire Vantage Data Centers

On March 27, 2017, pension PSP Investments, infrastructure investor DigitalBridge Group, private equity firm Silver Lake and Teachers Insurance and Annuity Association of America acquired information technology company Vantage Data Centers from Silver Lake

Acquisition Highlights
  • This is PSP Investments’ 1st, DigitalBridge Group’s 3rd, Silver Lake’s 12th and Teachers Insurance and Annuity Association of America’s 2nd transaction in the Information Technology sector.
  • This is PSP Investments’ 8th, DigitalBridge Group’s 3rd, Silver Lake’s 65th and Teachers Insurance and Annuity Association of America’s 4th transaction in the United States.
  • This is PSP Investments’ 2nd, DigitalBridge Group’s 1st, Silver Lake’s 24th and Teachers Insurance and Annuity Association of America’s 2nd transaction in California.

M&A Deal Summary

Date 2017-03-27
Target Vantage Data Centers
Sector Information Technology
Buyer(s) PSP Investments
DigitalBridge Group
Silver Lake
Teachers Insurance and Annuity Association of America
Sellers(s) Silver Lake
Deal Type Add-on Acquisition
Advisor(s) RBC Capital Markets
Citizens Digital Infrastructure M&A Advisory (Financial)
Simpson Thacher & Bartlett (Legal)

Target

Vantage Data Centers

Santa Clara, California, United States
Vantage Data Centers is a scalable, flexible and efficient data center offering unique value through its commitment to exceptional customer service. Vantage offers data center design solutions engineered to meet the unique requirements of enterprises, technology companies and service providers. Vantage is based in Santa Clara, California.

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Buyer(S) 4

Buyer

PSP Investments

Investor Investor Investor Investor Investor


Category Pension
Founded 1999
PE ASSETS 19.4B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

PSP Investments is a Canadian pension manager focused on a variety of investment strategies including public equities, real estate, private equity, infrastructure, private debt, and natural resources. The Firm's private equity group looks to back funds as well as make direct investments in partnership with managers. PSP will consider opportunities globally and will invest across a broad range of sectors, including financials, consumer, industrials, healthcare, technology, communications, and energy. PSP Investments is based in Ottawa.


DEAL STATS #
Overall 16 of 29
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (California) 2 of 3
Country (United States) 8 of 11
Year (2017) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-22 Cerba HealthCare

Issy-les-Moulineaux, France

Cerba HealthCare is an operator of clinical pathology laboratories, with a number one position in France and strong market positions in Belgium and Luxembourg. The majority of Cerba's revenues are generated via routine lab tests. Cerba HealthCare was founded in 1967 and is based in Issy-les-Moulineaux, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-22 Fives

Paris, France

Fives is an international industrial engineering group that designs and produces equipment, primarily for the automotive, steel and aluminium industries. Fives has participated in the modernization of various global industries, including steel, aluminium, cement, energy, and more recently, the automotive and aerospace industries, as well as logistics. The group’s rich history is grounded in constant innovation, development of proprietary technologies, international expansion and a pioneering spirit. This enables Fives to have a comprehensive global vision of the various industries in which it operates, as well as strong expertise in the design of critical equipment and solutions for industrial processes. Fives was founded in 1812 and is based in Paris, France.

Buy -
Buyer
DESCRIPTION
DigitalBridge's headquarters in Boca Raton, Florida.
DigitalBridge's headquarters in Boca Raton, Florida.

DigitalBridge Group is a global digital infrastructure investment firm. The Firm looks to acquire a variety of assets and operating businesses spanning cell towers, data centers, fiber, small cells, and edge infrastructure. DigitalBridge is headquartered in Boca Raton, Florida.


DEAL STATS #
Overall 4 of 13
Sector (Information Technology) 3 of 5
Type (Add-on Acquisition) 1 of 1
State (California) 1 of 3
Country (United States) 3 of 8
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-13 DataBank

Dallas, Texas, United States

DataBank is a provider of an enterprise-class data center, cloud, and interconnection services, offering customers 100% uptime availability of data, applications, and infrastructure. DataBank’s managed data center services are anchored in world-class facilities. DataBank’s customized technology solutions are designed to help customers effectively manage risk, improve their technology performance and allow them to focus on their core business objectives.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-27 Cogeco Peer 1

Toronto, Ontario, Canada

Cogeco Peer 1, Inc. is a provider of outsourced Internet infrastructure in the form of colocation and related managed services to enterprise customers in the US, and to a lesser extent, in Canada.

Buy CA$720M
Buyer

Silver Lake

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 104.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Silver Lake is a mega-sized private equity firm focused on a broad range of growth investments in and acquisitions of technology companies. Silver Lake is subdivided into several investing groups including Silver Lake Partners, Silver Lake Sumeru, Silver Lake Waterman, Silver Lake Alpine, and Silver Lake Kraftwerk. Silver Lake Partners pursues large-scale private investments in companies within the technology, tech-enabled and related growth industries. Silver Lake Sumeru invests in middle market technology companies with established business models and attractive growth prospects where there is an opportunity to create value through operational transformation. Silver Lake Waterman provides growth capital to later-stage companies in the technology and technology-enabled industries, offering flexible solutions to finance expansion and acquisitions. Silver Lake Alpine is Silver Lake's debt and credit investing arm. Silver Lake Kraftwerk provides growth capital to technology and tech-enabled businesses driving efficiency across the operations, energy, and resources industries. Silver Lake Partners was formed in 1999 is headquartered in Menlo Park, California.


DEAL STATS #
Overall 85 of 135
Sector (Information Technology) 12 of 19
Type (Add-on Acquisition) 3 of 4
State (California) 24 of 37
Country (United States) 65 of 95
Year (2017) 3 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-28 Qunar.Com

Beijing, China

Qunar.Com, Inc. provides information on flight tickets, hotels, packages, visas, and other travel services. Qunar.Com was founded in 2005 and is based in Beijing, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-22 Smart Modular Technologies

Newark, California, United States

Smart Modular Technologies is a developer and manufacturer of DRAM and Flash-based modules and subsystems for computing, communications, embedded, and defense applications. Smart Modular Technologies was founded in 1988 and is based in Newark, California.

Sell -
Buyer

Teachers Insurance and Annuity Association of America

Charlotte, North Carolina, United States

Category Company
Sector Financial Services
DESCRIPTION

Teachers Insurance and Annuity Association of America (TIAA) is a provider of financial services in the academic, research, medical, cultural and government fields. TIAA has $861 billion in assets under management and offers a wide range of financial solutions, including investing, banking, advice and guidance, and retirement services.


DEAL STATS #
Overall 4 of 4
Sector (Information Technology) 2 of 2
Type (Add-on Acquisition) 4 of 4
State (California) 2 of 2
Country (United States) 4 of 4
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-08 EverBank

Jacksonville, Florida, United States

EverBank provides full-service, nationwide banking and lending services to consumer, commercial and institutional clients through a variety of channels, including online, its Florida-based financial centers and at other business offices throughout the country. EverBank is based in Jacksonville, Florida.

Buy $2.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-01 EverBank

Jacksonville, Florida, United States

EverBank provides full-service, nationwide banking and lending services to consumer, commercial and institutional clients through a variety of channels, including online, its Florida-based financial centers and at other business offices throughout the country. EverBank is based in Jacksonville, Florida.

Sell -

Seller(S) 1

SELLER

Silver Lake

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 104.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Silver Lake is a mega-sized private equity firm focused on a broad range of growth investments in and acquisitions of technology companies. Silver Lake is subdivided into several investing groups including Silver Lake Partners, Silver Lake Sumeru, Silver Lake Waterman, Silver Lake Alpine, and Silver Lake Kraftwerk. Silver Lake Partners pursues large-scale private investments in companies within the technology, tech-enabled and related growth industries. Silver Lake Sumeru invests in middle market technology companies with established business models and attractive growth prospects where there is an opportunity to create value through operational transformation. Silver Lake Waterman provides growth capital to later-stage companies in the technology and technology-enabled industries, offering flexible solutions to finance expansion and acquisitions. Silver Lake Alpine is Silver Lake's debt and credit investing arm. Silver Lake Kraftwerk provides growth capital to technology and tech-enabled businesses driving efficiency across the operations, energy, and resources industries. Silver Lake Partners was formed in 1999 is headquartered in Menlo Park, California.


DEAL STATS #
Overall 40 of 64
Sector (Information Technology) 6 of 8
Type (Add-on Acquisition) 13 of 18
State (California) 10 of 19
Country (United States) 29 of 50
Year (2017) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-28 Qunar.Com

Beijing, China

Qunar.Com, Inc. provides information on flight tickets, hotels, packages, visas, and other travel services. Qunar.Com was founded in 2005 and is based in Beijing, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-22 Smart Modular Technologies

Newark, California, United States

Smart Modular Technologies is a developer and manufacturer of DRAM and Flash-based modules and subsystems for computing, communications, embedded, and defense applications. Smart Modular Technologies was founded in 1988 and is based in Newark, California.

Sell -