Carlyle Group, a global private equity firm, via its Infrastructure Group funds, today announced that it has agreed to acquire Involta, a U.S. data center operator focused on retail colocation and managed services, which also owns and manages fiber. Specifically, Carlyle is purchasing Involta from M/C Partners, a private equity firm focusing on small and mid-size businesses. Finally, the transaction is expected to close in Q1 2022.

Involta – Data Centers

Involta owns and operates a network of 12 regional data centers across 6 states in the United States. Below is a breakdown of Involta’s data center portfolio:

Data CenterStateMWRackssqft
TucsonArizona2.160020.0k
Boise IIdaho0.41706.2k
Boise IIIdaho1.030010.0k
MarionIowa0.830010.0k
Duluth IMinnesota0.31103.2k
Duluth IIMinnesota1.030010.0k
Akron IOhio1.030010.0k
Akron IIOhio1.030010.0k
CantonOhio0.72255.6k
IndependenceOhio1.028810.0k
YoungstownOhio0.51313.6k
PittsburghPennsylvania1.539611.2k
Total11.23.4k109.8k

Through its 12 data centers, Involta offers 11.2 megawatts of power capacity and 3.4k racks across 109.8k sqft of conditioned space.

Involta’s primary services include colocation, managed cloud, managed IT, and managed security. In particular, the company provides hybrid cloud solutions, which leverage a combination of different environments including on-premises, private cloud, and public cloud.

Connectivity

Across its data centers, Involta’s on-site carriers include AT&T, Cable One, Charter Communications, Cogent Communications, Comcast, Consolidated Communications, Cox Communications, Everstream, Lumen Technologies, Windstream, and Zayo Group.

Expansion

Carlyle Group’s capital will enable Involta to expand its data center operations nationally, from its current presence in the Midwest, Pacific Northwest, and Southwestern U.S.

Involta – Fiber Network

Involta owns and manages 12k+ fiber route miles throughout Ohio and western Pennsylvania. Geographically, this fiber creates a triangle of connectivity between Columbus, Ohio; Cleveland, Ohio; and Pittsburgh, Pennsylvania. Additionally, Involta has developed 10 fiber rings as part of its fiber infrastructure.

Ohio and Pennsylvania Fiber Maps Involta
Click here for a larger version of this image.

Beyond Ohio and Pennsylvania, Involta owns and manages 130+ miles of fiber encompassing Cedar Rapids, Iowa, and the surrounding region.

Transaction Advisors

Financial advisors were Bank Street Group (Involta) and TD Securities. Additionally, the legal advisor was Greenberg Traurig.

Carlyle Group – Digital Infrastructure

Carlyle Group has $293bn of assets under management as of September 30, 2021. The firm’s infrastructure business invests in six primary sectors, including renewables, energy, water & waste, transportation, digital, and power generation.

Carlyle Global Infrastructure Opportunity Fund (CGIOF)

Overall, the Carlyle Global Infrastructure Opportunity Fund (CGIOF) resides within Carlyle’s private equity business and is the firm’s largest infrastructure fund. CGIOF is a 2019 vintage vehicle which presently has $2.2bn of committed capital.

Within digital infrastructure, Carlyle has also acquired Wyyerd Group, a regional fiber-to-home (FTTH) business in the Southwestern United States. Most recently, the firm completed a bolt-on fiber acquisition for the Wyyerd Group business in December 2021.

Mary Zhang covers Data Centers for Dgtl Infra, including Equinix (NASDAQ: EQIX), Digital Realty (NYSE: DLR), CyrusOne, CoreSite Realty, QTS Realty, Switch Inc, Iron Mountain (NYSE: IRM), Cyxtera (NASDAQ: CYXT), and many more. Within Data Centers, Mary focuses on the sub-sectors of hyperscale, enterprise / colocation, cloud service providers, and edge computing.

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