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10/2025100%

Aligned Data Centers acquired by Artificial Intelligence Infrastructure Partnership Aiip / MGX / Global Infrastructure Partners

UNITED STATES IT Services / Infrastructure & Cloud / Hosting / Datacenter EV $20–50bn

Context

On 15 October 2025, an institutional consortium comprising the Artificial Intelligence Infrastructure Partnership (GAIP), Abu Dhabi-backed technology investor MGX, and BlackRock’s Global Infrastructure Partners (GIP) entered into a definitive agreement to acquire 100% of Aligned Data Centers in a take-private transaction, which formally closed on 23 July 2026. The transaction marks the full exit of historical institutional owners, primarily infrastructure funds managed by Macquarie Asset Management alongside its affiliated co-investors. To support the platform’s high-density development pipeline, the consortium committed an additional $5 billion in follow-on growth equity alongside the buyout consideration. The acquisition represents the inaugural platform deployment for GAIP, serving as the cornerstone asset in its mandate to deploy an initial $30 billion in direct equity capital, with the capacity to unlock up to $100 billion in total digital infrastructure investment when levered with future debt facilities. Strategically, the transaction capitalizes on the structural convergence of long-term infrastructure capital and exponential demand for AI-ready, hyperscale compute capacity. The investment thesis combines Aligned’s proprietary cooling technologies, power interconnection rights, and Tier-1 land bank with the scale of BlackRock and GIP’s global infrastructure platforms and MGX’s sector-dedicated AI focus. Following completion, Aligned Data Centers continues to operate as an independent platform under its existing executive leadership, supported by balance-sheet flexibility to accelerate gigawatt-scale development across the Americas.

Aligned Data Centers, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of Above 20x.

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Target

Headquartered in Dallas, Texas, Aligned Data Centers is a leading technology infrastructure company focused on developing and operating sustainable digital infrastructure platforms across the Americas. Led by CEO Andrew Schaap, the company's footprint encompasses approximately 50 campuses representing more than 5 GW of operational and planned capacity across Tier-1 digital gateway and core interconnect markets, including Northern Virginia, Chicago, Ohio, Phoenix, Salt Lake City, São Paulo, Querétaro, and Santiago. To support high-density compute and AI-driven workloads, Aligned deploys proprietary, patented, and patent-pending cooling technologies spanning advanced air, liquid-to-chip, and hybrid thermal management systems. The platform delivers build-to-scale, gigawatt-scale, and multi-tenant colocation solutions engineered for global hyperscalers, emerging neo-cloud providers, and tier-one enterprises. Backed by strategic land banking and proactive utility interconnection programs, Aligned secures speed-to-power and high-efficiency capacity in power-constrained metropolitan transmission corridors.

Ent. Value

$20–50bn

Equity Value

[members only]

Multiples

EV / Revenue

Above 6x

EV / EBITDA

Above 20x

EV / EBIT

[members only]

Historical Financials (USD)

Year
Rev
EBITDA
EBIT
2025
$1–10bn
$450–900M
[members only]
2024
$1–10bn
$450–900M
[members only]

Other operations with Artificial Intelligence Infrastructure Partnership Aiip / MGX / Global Infrastructure Partners

Other operations with Artificial Intelligence Infrastructure Partnership Aiip / MGX / Global Infrastructure Partners
DateAcquirerTargetCountrySector
11/2022KKR / GLOBAL INFRASTRUCTURE PARTNERSVANTAGE TOWERSGERMANYInfrastructures

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REFERENCES

Valuation range: EV $20–50bn

Revenue range: $1–10bn

EBITDA range: $450–900M

EV/Revenue range: Above 6x

EV/EBITDA range: Above 20x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Aligned Data Centers by Artificial Intelligence Infrastructure Partnership Aiip / MGX / Global Infrastructure Partners are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: aligned data centers

FAQ

What transaction does this page cover?

This page covers the acquisition of 100% of Aligned Data Centers, an American company specialised in Infrastructure & Cloud, by Artificial Intelligence Infrastructure Partnership Aiip, MGX and Global Infrastructure Partners in 2025.

How was the acquisition of Aligned Data Centers by Artificial Intelligence Infrastructure Partnership Aiip valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the $20–50bn band, its EV/EBITDA multiple within the Above 20x range, and its EV/revenue multiple within the Above 6x range. Exact figures are available to members.

What were Aligned Data Centers’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Aligned Data Centers generated annual revenue estimated in the $1–10bn range and EBITDA in the $450–900M bracket (FY 2025). Detailed financial figures are available to members.

What sources support the information on this transaction?

Information on this transaction is sourced from the official corporate announcement published by the parties, corroborated by a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

What is mynth?

mynth is the first free M&A database dedicated to Small & Mid-Cap transactions. We centralize Enterprise Values, revenue multiples, EBITDA multiples and transaction financials that are typically locked behind five-figure subscriptions on platforms like Capital IQ or Mergermarket. On mynth, searching and browsing deals is completely free. Our mission is simple: make professional-grade valuation intelligence accessible to every M&A advisor, independent consultant, Private Equity professional and student, without the burden of expensive annual licenses.