Next Generation Data (NGD) has secured a package of mezzanine and debt investment totalling £5 million (about $8.2 million US) from investors including Lombard and Finance Wales. The financing will support NGD’s expansion of its huge data center in Newport, Wales, where it plans to add four more data halls.
“Since opening in Newport, we’ve experienced a rapid increase in demand from the corporate, government and cloud computing sectors,” said Nick Razey, Managing Director of Next Generation. “We’re excited about our future plans. We’re using this latest investment together with our own capital to build new capacity. We’re building two data halls to customer specification as well as some additional space because we’re seeing many customer requests with short lead times.”
The Newport facility was completed last year, and is one of the world’s largest data centers. The huge facility was previously used as an LG semiconductor plant, but has been converted into a three-story data center facility that will feature more than 375,000 square feet of wholesale data center space.
“Next Generation Data is a specialist in the growing data centre sector,” said Rhian Elston, Deputy Fund Manager at Finance Wales. “The company has a strong business plan and has seen increased demand for its services. We’re pleased to be investing in Next Generation Data’s latest expansion as it will ensure it’s well-placed to capitalise on expected market growth.”
Advisors on the deal were PWC (Next Generation Data’s auditors), Clyde & Co LLP (legal to Next Generation Data), Geldards (legal to Finance Wales) and Addleshaw Goddard (legal to Lombard).