Brookfield Infrastructure Partners and Ontario Teachers’ has announced that they have entered into a definitive agreement with RedBird Capital Partners and the Azrieli Group to acquire Compass Datacenters.

Under the new ownership structure, Compass will receive ongoing robust operational and financial backing, enabling the company to successfully develop sustainable and expansive data center campuses across various regions. Compass Datacenters specializes in the design and construction of data centers for cloud providers, establishing campuses worldwide. Compass Datacenters prioritizes sustainability throughout its operations. This includes sustainable practices implemented throughout the entire data center lifecycle, from initial design to post-delivery performance. Notable sustainability initiatives encompass efficient land utilization, water-free cooling systems, and a strong commitment to reducing greenhouse gas emissions associated with the construction and operation of their facilities.

Compass and RedBird were advised on the transaction by joint financial advisors Goldman Sachs & Co. LLC and Guggenheim Securities, LLC. Deutsche Bank Securities Inc. provided guidance as the debt financing advisor. Brookfield Infrastructure sought the expertise of BMO Capital Markets and Scotiabank as joint financial advisors, with legal counsel provided by Kirkland & Ellis LLP. Ontario Teachers' engaged TD Securities as their financial advisor, while legal counsel was provided by Paul, Weiss, Rifkind, Wharton & Garrison LLP. Compass received legal counsel from Fried, Frank, Harris, Shriver & Jacobson LLP and Wick Phillips, LLP, while DLA Piper served as legal counsel to Compass Management. RedBird sought legal counsel from Fried Frank.