Stack Infrastructure is selling its European colocation data centers to investment fund Apollo.
The deal will see Apollo acquire seven data centers in five markets - Stockholm, Oslo, Copenhagen, Milan, and Geneva - and form a new, independent company to manage them. Financial terms have not been disclosed.
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.”
As part of the transaction, the management team and all employees currently part of Stack’s EMEA colo business unit, which only launched last year, will move over to the new company, which will no longer bear Stack’s name or logo. A fresh identity for the independent business has not been revealed.
US-based Stack, which has been owned by investment firm Blue Owl Digital since October 2024, will continue to operate in EMEA, but with a focus on hyperscale clients. It has data centers in Frankfurt and Zurich, which are not part of the Apollo deal, and operates multiple campuses in Geneva, Milan, and Oslo. DCD has contacted the firm for clarity on which data centers are being sold.
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.”
Adam Petrie, partner at Apollo, added: “We are strong believers in the fundamental tailwinds behind the demand for data center infrastructure. In particular, we believe high-quality, interconnected colocation businesses with differentiated value propositions like the company’s offer an attractive, secular growth opportunity for the long-term. We are very excited to partner with Sherif and his team in taking this business to the next level and expanding its presence across Europe.”
