Digital Bridge in consortium with PSP Investments and TIAA Investments’s acquisition of Vantage Data Centers, a leading provider of data center solutions in support of mission-critical applications


Vantage Data Centers, a leading provider of data center solutions in support of mission-critical applications, has been acquired by a consortium which includes Digital Bridge Holdings, LLC, a leading global communications infrastructure company, Public Sector Pension Investment Board (PSP Investments), and TIAA Investments (an affiliate of Nuveen), which made the investment on behalf of TIAA’s general account.

Financial terms of the private purchase from Silver Lake were not disclosed.

Founded in 2010 in the heart of Silicon Valley, Vantage’s customer base includes the world’s leading cloud service providers and large enterprises. With four data centers on the flagship Santa Clara campus, two more under construction, and a second large-scale campus under development, Vantage has the largest wholesale data center footprint in Silicon Valley. The company has built 51 megawatts of IT load in Santa Clara and has secured expansion capacity totaling 93 megawatts of IT load. The company also owns and operates a data center campus in Quincy, Washington, including a 6 megawatt data center and additional expansion land and power in that market. Vantage is well positioned for continued growth in the industry, with plans to significantly expand its data center footprint in existing and new markets.

RBC Capital Markets and DH Capital served as financial advisors, and Simpson, Thacher & Bartlett LLP acted as legal advisor to Vantage in connection with the transaction.

Jones Day acted as lead M&A counsel with a team led by Ismail Alsheik (picture) and Justin Macke, and Kleinbard LLC acted as investment structure counsel, and Ernst and Young LLP served as accounting advisor to Digital Bridge.

Davies Ward Phillips & Vineberg LLP acted as legal advisor to PSP Investments, and Arnold & Porter Kaye Scholer LLP acted as legal advisor to TIAA Investments.

TD Securities together with CIT Bank, N.A., RBC Capital Markets, and SunTrust Robinson Humphrey provided debt financing commitment for the acquisition.

Involved fees earner: Ismail Alsheik – Jones Day; Justin Macke – Jones Day;

Law Firms: Jones Day;

Clients: Psp Investments; Digital Bridge Holdings, LLC;

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Author: Ambrogio Visconti