GI Partners makes first European data infrastructure investment

GI Partners makes first European data infrastructure investment

GI Partners, an investor in data infrastructure businesses, has agreed to acquire ASK4, the provider of managed internet services to the multi-tenant real estate sector, from Bowmark Capital.

ASK4 will be GI Partners’ first data infrastructure investment in Europe. The transaction is subject to regulatory approvals.

Based in Sheffield, U.K., ASK4 provides managed Internet, IT and IoT services across 12 European countries supporting over 320,000 customers.

“ASK4’s purpose is to support people and communities to be connected, allowing them to live life and work productively in their homes and workspaces,” said Andrew Dutton, CEO of ASK4. “We have enjoyed a fantastic partnership with Bowmark over the last five years and we are excited about the future with GI as we continue to develop the ways we support existing clients and expand the delivery of our services into multi-tenant communities across Europe and North America.”

“ASK4’s core proposition is the delivery of fully managed Wi-Fi connectivity within multi-tenant buildings serving students, working professionals and people in retirement. We are delighted to partner with Andrew Dutton and the ASK4 team to execute a focused geographical, sector and service expansion effort,” said Matt Barker, Managing Director and Head of Europe for GI Data Infrastructure. “ASK4’s technical and service excellence is uniquely positioned to provide real estate investors and operators with market leading services that drive retention, re-bookings and improved net operating income.”

Mark Prybutok and Brendan Scollans, Co-Heads of GI Data Infrastructure, added “We are pleased to be announcing our first European investment for GI Partners’ Data Infrastructure strategy. We have tracked the development of ASK4 for many years, and our teams in Europe and the U.S. worked closely together to execute on this investment. ASK4’s balance of high-quality contracted revenues and attractive value-add growth prospects makes it a very well-suited addition to the GI Data Infrastructure portfolio.”

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