Our regular round-up of deals involving Irish law firms. Submit your deals to email@example.com.
McCann FitzGerald advises on landmark $15bn data centre acquisition
McCann FitzGerald LLP has advised KKR and Global Infrastructure Partners (GIP) on the Irish law aspects of their $15 billion take-private acquisition of CyrusOne, believed to be the biggest data centre acquisition in history.
The firm worked with US-headquartered Kirkland & Ellis on the transaction, which completed on 25 March 2022 and involves KKR and GIP acquiring all outstanding shares of common stock of CyrusOne in an all-cash transaction valued at approximately $15 billion, including the assumption of debt.
The investment by KKR and GIP will assist CyrusOne, which specialises in enterprise-class data centre properties, with rapidly expanding its footprint across key global digital gateway markets.
The McCann FitzGerald team was led by Niall Best along with Ciara O’Herlihy, Rachel O’Neill and Ciaran Sweeney.
Matheson advises Waystone on acquisition of Centaur Group
Matheson has advised Waystone, a major provider of institutional governance, risk, and compliance services to the asset management industry, on its agreement to acquire Centaur Group, an established global fund administration and fiduciary services provider headquartered in Ireland.
The transaction, which is subject to regulatory approvals, represents the first time a leading third-party management company has moved to integrate a fund administrator to complement its service offering versus the established route of fund administrators adding management company services.
The cross-departmental Matheson team was led by partner Brian McCloskey, senior associates Robert Maloney Derham and Enda Garvey, associate Una Donovan and solicitors Dan McAleese and Niamh Hanbidge.
Mr McCloskey said: “This is another significant transaction in Waystone’s rapid growth trajectory and a particularly important one as it represents the first time a third party management company has moved to integrate a fund administrator to complement its service offering.
“This transaction is also significant from an Irish perspective as Waystone’s headcount will rise to close to 500 Irish-based employees when also taking into account the recently announced transaction with KB Associates, on which Matheson also advised.
“We are delighted to have worked with Waystone again on another milestone transaction for the group. Waystone is a great example of an Irish company with a global reach leading the way in the asset management industry, a vital part of Ireland’s broader financial services sector.”
Arthur Cox advises Digital 9 Infrastructure on €60m acquisition of Host Ireland
Arthur Cox has advised Digital 9 Infrastructure plc on its €60 million acquisition of enterprise broadband provider Host Ireland.
Host Ireland owns and operates the highest capacity licensed microwave-based fixed wireless access (FWA) network in Greater Dublin. It provides wireless broadband to 1,600 enterprise customers, including multinational corporates, government bodies and technology companies for which reliable connectivity is critical.
The acquisition is D9’s first investment into wireless infrastructure, one of the company’s four target digital sub-sectors.
The Arthur Cox team was led by partner Connor Manning and senior associate Ruth Donnellan in the firm’s corporate and M&A team.
They were supported by Ailbhe Ní Bhriain and Sarah O’Reilly in corporate and M&A, Aaron Boyle and Olivia Abell in infrastructure, construction and utilities, Fintan Clancy and Cristina Susanu in tax, Cian Beecher and Eamonn Butler in employment, Rob Corbet and Ciara Anderson in IP and Daniel Watters in pensions.
Ronan Daly Jermyn advises Client Solutions on sale to EY
Ronan Daly Jermyn has advised the shareholder of Irish enterprise technology firm Client Solutions on its sale to EY.
Founded in 1994, Client Solutions employs more than 240 people and advises blue-chip clients on the skills gap, digital transformation and transformation.
The acquisition is subject to merger clearance by the Competition and Consumer Protection Commission (CCPC).
The RDJ transaction team included Gillian Keating and Liam O’Keeffe in the corporate and commercial team, David Rodgers and John Cuddigan in the tax team, Diarmaid Gavin in the competition team and Brendan Cunningham in the banking team.
Marcus Lynch Solicitors advises Keystone on acquisition by Radius
Marcus Lynch Solicitors has advised Dundalk-based insurance broker Keystone Insurance Limited on its acquisition by Radius Payment Solutions Limited.
Keystone, founded in 2006, specialises in business insurance solutions to SME business customers, particularly to clients in the construction industry.
Radius is a global business services company founded in the UK in 1990 that now operates in 18 countries across five continents. It reported a turnover of around £2.2 billion in the 2021 financial year.
Global law firm Squire Patton Boggs acted as legal advisers to Radius while Marcus Lynch Solicitors acted for Keystone.