InfraVia buys Altice’s data centres in €184m swoop

The deal generated a nearly 10 times EBITDA multiple for the Dutch group, which is also close to selling its tower portfolio.

Paris-based InfraVia Capital Partners has bought a portfolio of data centres in Switzerland in a deal worth an enterprise value of SFr 214 million ($217.1 million; €183.5 million).

The acquisition, secured through the firm’s €1 billion InfraVia European Fund III, sees the company buy five data centres covering a cumulative 12,000 square metres. The data centres were bought from Dutch telecoms group Altice, which said the assets were purchased at a multiple of 9.9 times EBITDA.

The assets are split between the Altice subsidiaries green.ch and Green Datacenter. The former provides internet connections, cloud and multimedia services and data back-up solutions, while the latter hosts data centres for medium-sized and larger Switzerland-based companies.

The deal is the second data centre acquisition by InfraVia’s third fund following the purchase of the UK-based Next Generation Data, said to be Europe’s biggest data centre. The fund’s €530 million predecessor also invested in data centre developer Etix alongside Tiger Infrastructure in 2015.

The disposal by Altice is part of the group’s bid to reduce its debt, which stood at close to €50 billion at the end of Q3. Altice said towards the end of last month that certain assets, including its tower portfolio, have been identified for sale and these could be agreed within the first half of next year.