Stack Infrastructure Sells European Colo Business to Apollo

Stack Infrastructure is selling its European colocation data centers to investment fund Apollo. Apollo will acquire seven data centers in five markets - Stockholm, Oslo, Copenhagen, Milan, and Geneva - and form a new, independent company to manage them. According to a statement from the businesses, the data centers serve “a diverse portfolio of blue-chip enterprise clients, including telecommunications carriers, IT and services companies, and financial institutions.”

Sherif Rizkalla, CEO of Stack’s EMEA colo business, will lead the new firm. Rizkalla said: “We are delighted to partner with Apollo to accelerate [the] growth of our business as a new, standalone company. Leveraging Apollo’s expertise in infrastructure, significant access to resources and support, we believe we are extraordinarily well-positioned to capitalize on our industry’s tailwinds and bring even more value to our customers, employees, and other stakeholders.”

John Eland, Stack Infrastructure CEO, said: “The strategic creation of the colocation business unit enabled us to support the specialized requirements of the hyperscale sector, whilst also enabling our colocation experts to deliver exclusively on the needs of the enterprise sector. Stack EMEA evolves to focus primarily on hyperscale clients. This transaction solidifies our commitment to hyperscale data center development and operations, whilst our former enterprise colocation clients will continue to receive the highest standard of performance and support from dedicated experts.”