Adam Ecotech acquired by CVC

CVC DIF agreed on 31 October 2024 to acquire the whole of Adam Ecotech from Ogic Informatica, investing through its third value-add infrastructure fund, in the firm’s first data centre transaction in Europe. Chief executive Jose Mejias continued to lead the business. Adam Ecotech owns and operates data centres in which companies install their own servers, providing the floor space, the electrical supply, the cooling and the physical security those machines require, together with connections to the telecommunications networks reaching the buildings. It runs three facilities in Barcelona and Madrid, comprising approximately 6,900 square metres and 7 MW of installed capacity, and serves more than 200 customers, to whom it also rents computing capacity on its own equipment. Carrier neutrality distinguishes the proposition, since a tenant may connect through any operator present in the building rather than one the landlord imposes, and the accumulation of networks within a facility makes it progressively more useful to the companies already there and harder to leave. Spanish demand has risen with the obligation on businesses to hold certain data within the country and with the arrival of hyperscale operators, whose own capacity serves their platforms rather than the mixed requirements of mid-sized companies, which continue to run equipment they prefer to house rather than own premises for. Power determines what such a business can sell, each additional megawatt requiring a grid connection that takes years to obtain, and the company was developing a new site alongside extensions to its existing ones with the intention of reaching 12 MW. Linklaters advised CVC DIF, with Colliers on corporate finance, EY-Parthenon on commercial and EY on financial and tax due diligence, while KPMG advised Ogic Informatica, with RocaJunyent as legal counsel.

The acquisition of Adam Ecotech is part of the growth strategy of CVC, which already has several external growth operations under its belt, notably M Group Services in 2024.