New capital commitment from CDPQ and Fengate for eStruxture Data Centers

9 Aug 2019 by Datacenters.com Technology

Caisse de dépôt et placement du Québec (CDPQ) and Fengate Asset Management (Fengate) announced a new co-investment in eStruxture Data Centers, a Quebec-based network and cloud-neutral data center provider. The new capital commitment will support eStruxture’s growth strategy. They haven’t disclosed the terms of the deal. 

“With this reinvestment, CDPQ is continuing to support a rapidly growing Québec company that operates in a booming industry. As companies change and grow, their cloud computing, network, data storage, and power supply needs continue to increase exponentially. eStruxture is well-positioned to capitalize on the major digital transition currently underway,” said Charles Emond, CDPQ’s Executive Vice-President and Head of Québec Investments and Global Strategic Planning.

eStruxture currently operates five data centers; three in Montréal and two in the Vancouver area. The company now serves more than 900 customers, including telecommunications companies, cloud service providers, media companies, and financial services providers. The new growth strategy of the company will focus on acquisitions, the expansion of existing data centers, and the construction of new data centers. 

The company has recently signed an agreement to acquire from Shaw Communications Inc. the assets of Shaw's Calgary-1 data center. The new CDPQ and Fengate co-investment helped the company seal the acquisition. 

“We are very fortunate to have partners such as CDPQ and Fengate who not only recognize the value of investing in the robust, fast-growing data center market but also support and align with eStruxture’s long-term growth strategy of becoming Canada’s leading provider of cloud and carrier-neutral data center services,” said Todd Coleman, President and CEO of eStruxture Data Centers.

With the new investment, eStruxture expects to accelerate the expansion of its existing data centers, including the facility located in Montreal's historic Gazette building. The planned development of the Montreal facility will feature more than 17,300 m2 of space and 30 megawatts of capacity. 

CDPQ, a long-term institutional investor, first invested in eStruxture in June 2017. Fengate, a leading alternative investment manager focused on private equity, infrastructure, and real estate strategies, joined as a co-lead investor in January 2018.

Author

Datacenters.com Technology

Datacenters.com is the fastest and easiest way for businesses to find and compare solutions from the world's leading providers of Cloud, Bare Metal, and Colocation. We offer customizable RFPs, instant multicloud and bare metal deployments, and free consultations from our team of technology experts. With over 10 years of experience in the industry, we are committed to helping businesses find the right provider for their unique needs. 

Subscribe

Subscribe to Our Newsletter to Receive All Posts in Your Inbox!