Marguerite, a European infrastructure fund, through its fund Marguerite II, today announced that it has agreed to acquire 100% of Conapto AB, a Swedish colocation data center provider, from Segulah, a Nordic private equity firm, and specifically from its vehicle Segulah Fund V.

Additionally, the transaction will close by the end of July 2021.

Conapto – Marguerite Acquires from Segulah

Conapto is headquartered in Stockholm, Sweden, operating two colocation data centers and a backup site in the Stockholm region.

Conapto Sweden Data Center Connectivity Map

The company was launched in September 2018 following the acquisition and carve-out of Sungard Availability Services’ Swedish operations by Segulah. Notably, Sungard Availability Services is a U.S.-headquartered IT services provider.

Management Team

Upon completion of the transaction by Marguerite, Conapto’s existing management team, led by its CEO, Håkan Björklund, will remain in-place. Furthermore, the management team will roll-over a portion of their equity in the company, alongside Marguerite.

Expansion

Conapto notes that, with Marguerite II, it will have an even stronger owner, than it had with Segulah, which can support the growth and future expansion of its data center portfolio. Indeed, with investment from Marguerite, the company will provide its existing and new customers with new data center developments.

To this end, the company also announced the commencement of works for the expansion of its data center known as Conapto Stockholm North. Specifically, this facility is located in the municipality of Sollentuna, which is ~10 miles (~16 kilometers) outside of the Stockholm city center. Upon completion, the expansion will add 2 megawatts of power capacity to the Conapto Stockholm North data center.

Competitors

Conapto’s key competitors in Sweden include DigiPlex, Equinix, Digital Realty, GlobalConnect (IP-Only), Bahnhof, Telia Company, Tele2, Verizon, Fortlax, and Basefarm (Orange).

Transaction Advisors – Marguerite

Marguerite’s financial advisor for the purchase of Conapto from Segulah was SEB. Additionally, Marguerite’s legal advisor was Setterwalls.

Marguerite – Overview

Marguerite’s current pan-European infrastructure fund, Marguerite II, has €745m of equity capital commitments. Through this vehicle, the firm targets greenfield investments and brownfield projects in renewables, energy, transport, and digital infrastructure throughout Europe.

Investors in Marguerite II include the European Investment Bank and five European national development banks. Specifically, these development banks include: i) Poland’s Bank Gospodarstwa Krajowego (BGK), ii) France’s Caisse des Dépôts (CDC), iii) Italy’s Cassa Depositi e Prestiti (CDP), iv) Germany’s Kreditanstalt für Wiederaufbau (KfW), and v) Spain’s Instituto de Crédito Oficial (ICO).

Mary Zhang covers Data Centers for Dgtl Infra, including Equinix (NASDAQ: EQIX), Digital Realty (NYSE: DLR), CyrusOne (NASDAQ: CONE), and CoreSite Realty (NYSE: COR). Within Data Centers, Mary focuses on the sub-sectors of hyperscale, enterprise / colocation, cloud service providers, and edge computing.

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