In August 2016, STAR acquired a majority stake in Globalways AG (“Globalways”), a Stuttgart based IT services and infrastructure business.
At the time of acquisition, Globalways had two datacentres in operation and one under development, secured by anchor tenants. STAR, in partnership with the founders and management team of Globalways, have committed further capital to grow the business with the build-out of further data centres across Germany. The company will target regionally important cities, providing modern, highly secure and energy-efficient facilities (Tier III standard). An innovative modular-build approach allows facilities to be designed and delivered much more quickly than traditional large data centres.
Why does Globalways fit STAR’s investment strategy?
- Strong growth in German data centre market, driven in part by data security concerns;
- Underserved demand outside Frankfurt with many existing regional facilities ageing and at capacity;
- Medium to long term contracts provide good visibility on cashflows;
- Attractive existing business and strong development pipeline;
- Modular construction secured by anchor tenants significantly reduces the investment risk for new developments;