Asterion Industrial Partners agrees sale of data center group Nabiax to Aermont: Advisors

Asterion Industrial Partners and Aermont has announced that they have entered into an agreement under which Nabiax will be sold to a fund managed by Aermont. Nabiax is Spain’s leading data center group and hyperscaler platform in terms of market share and installed capacity. The transaction includes the sale of Telefónica’s 20% stake in the company.

Nabiax’s current portfolio consists of three data centers with an installed IT power of 35 MW located at facilities in Alcalá de Henares, Julián Camarillo (both in the province of Madrid) and Terrassa (Barcelona). The assets benefit from expansion capacity that provides optionality to scale installed IT power to above 100 MW in the medium term.

Asterion Industrial Partners created Nabiax in 2019 through the acquisition of 11 data centers from Telefónica. In 2021, Telefónica joined the platform as a partner through the contribution of three additional assets in exchange for a 20% equity stake, enabling Nabiax to leverage Telefonica’s commercial relationships across Spain and Latin America. As part of a strategic repositioning to focus on surging demand for data center capacity in Europe, Nabiax sold its 11 data centers in Latin America to Actis in 2023.

Telefónica will continue to deliver and manage the services it currently provides to its clients from Nabiax’s existing portfolio, maintaining its commercial positioning as well as its leadership in connectivity services and cloud capabilities for the corporate segment.

Uría Menéndez has advised Aermont Capital on the operation with a team formed by Manuel Echenique (partner, Co-Head of M&A and Private Equity, Madrid); Javier Tortuero (partner, Corporate and M&A,Madrid); Guillermo del Río (managing associate, Corporate and M&A, Madrid); Casilda Campuzano (senior associate, Corporate and M&A, Madrid); Paula Lissorgues (associate, Corporate and M&A, Madrid); and Gonzalo Sanz (senior associate,Corporate and M&A, Madrid).

Clifford Chance advised Asterion Industrial Partners on the initial acquisition, the subsequent acquisition from Telefónica and the later sale of Nabiax’s Americas operations. The team on the transaction was led by M&A partner Javier Amantegui, together with counsel Javier Olábarri, senior associate Javier Montañés and associates Josep Massana and María Rodrigo. María Sabau, a Global Financial Markets partner, advised on the financing aspects of the deal.

Gómez-Acebo & Pombo assisted Nabiax with a crew consisting of Pablo Fernández Cortijo, Guillermo Guerra, Jorge Martín and Carlota Mazzuchelli from the corporate team.