The Carlyle Group has sold Itconic, the largest provider of neutral data centre, connectivity and cloud infrastructure solutions in Spain and Portugal. The buyer was Equinix, Inc. a Nasdaq-listed company specialising in interconnection and data centre services. The purchase price amounted to €215M. The agreement was signed on 8 September 2017, and the acquisition is expected to be completed in the fourth quarter of 2017, subject to regulatory approvals.
About Itconic
Itconic, antes conocido como Telvent Global Services has three main lines of business: data centres, platforms and IT services. Within its data centre division, the company has become renowned for interconnecting its five data centres (4 in Spain and 1 in Lisbon), with the aim of offering greater agility and interconnection flexibility to its customers.
También en el área de plataformas Itconic ha llevado a cabo acciones estratégicas, como la compra de CloudMas a principios de 2016. En aquel entonces el único premium cloud consultant de Amazon Web Services en España.
In 2015, Carlyle, que ya contaba con experiencia en el sector, compró Telvent por una cifra cercana a los €22M a Schneider Electric. Desde este momento Itconic empezó un proceso de cambio -organizativo, estratégico y cultural-, con dos objetivos muy claros en mente: foco estratégico y crecimiento rentable.
Itconic corporate finance analysis
Itconic currently employs around 290 people. In 2016 it had a turnover of €47M and an EBITDA of €8.9M. Although they expect to reduce sales this year, they estimate their EBITDA to reach €14M, considerably improving their profitability ratio. From 2018 onwards, they expect double-digit growth in revenues and EBITDA.
Itconic, which has been in decline for a number of years, however, in the last year has managed to reduce its debt ratio (11.8 to 6.5) and improve its profitability considerably (9% to 19%).
Carlyle Group sells Itconic
One year after the acquisition, Carlyle has decided to sell Itconic to Equinix. Itconic will be able to strengthen its position in Europe and expand its presence in two new countries in the region. In addition, Equinix will benefit from the Itconic team's expertise in hybrid cloud architectures and cloud computing adoption and migration strategies.
Como resultado de esta adquisición, Equinix atenderá a más de 400 clientes en la península ibérica, entre los que se encuentran marcas como L’ Oreal, Vueling, Deloitte, BNP Paribas, Repsol, Real Madrid, Randstad, Carlson Wagonlit Travel, Aon y Bank of America. Además, en Itconic operan más de 100 empresas de redes y movilidad y más de 90 empresas de servicios Cloud e IT, entre las que se incluyen Amazon Web Services (AWS), Microsoft Azure y Google Cloud.
The deal to acquire the Neutral Data Centre, Connectivity and Cloud Infrastructure business was sealed on 8 September and the acquisition is expected to close in the fourth quarter of 2017 subject to customary closing conditions, including regulatory approval.
Other posts that may interest you
Venture capital invests in BPOs to grow companies and increase their value.
GfI buys Spanish BPO specialist Efron Consulting
Konecta acquires Allus Global, Latin America's leading BPO provider
If you are looking for investors, you want to buy or selling a companyplease contact us. Abra-Invest has a team of experts in each area at your disposal. Call +34 946424142 or fill in the contact form.