Several big-name private equity firms, including EQT AB and KKR & Co, have been shortlisted to strike a deal to acquire data centre company Global Switch according to a report by Bloomberg.
The report cites unnamed sources as saying that the list of firms selected to take part in the next round of bidding for the London-based business also includes Gaw Capital Partners, PAG and Stonepeak Partners. Due diligence is expected to begin in the next few weeks before final binding offers are submitted.
Global Switch’s owners, which include Jiangsu Shagang Group Co and Avic Trust Co, are reportedly expecting any deal to value the business in the region of $10 billion.
According to the latest Global Switch annual report, the company, which was founded in 1998 and owns and operates 13 data centres in Europe and Asia Pacific, reported £251.4 million ($297 million) in Ebitda for 2021, a 5.8% increase on the previous year.
