In a slightly complicated transaction,Bain will eventually acquire the facilities in a growing data centre market,despite the country experiencing slower overall economic growth.
Chinese content delivery network Wangsu Science and Technology has approved the sale of its data centre subsidiary Xiamen Qinhuai Technology to Bain Capital for the equivalent of$146m.
Wangsu owns 90%the data centre subsidiary,and will complete the transaction through two stages,first buying the remaining 10%share from Xiamen Qinhuai Technology’s current chairman,then offloading the lot to Bain Capital.
Xiamen Qinhuai Technology operates nine data centres in China.Half-year sales at Xiamen Qinhuai were just over$25m for the period ending 30 June.
Bain Capital Private Equity recently raised$4bn for its Asia fourth fund.The first three funds raised a total of$6bn,perhaps illustrating the amount of action investors see in China,despite slowing overall economic growth in that country.
Wangsu Science and Technology is a subsidiary of ChinaNetCenter,one of the main data centre operators in China.Bain Capital,headquartered in Boston,Massachusetts,was co-founded by US senator Mitt Romney,the Republican Party’s 2012 presidential candidate.
