GI Partners acquires European internet provider ASK4
GI Partners, a preeminent investor in critical data infrastructure, has inked a definitive agreement to acquire ASK4, Europe’s top provider of essential in-building Internet connectivity to the multi-tenant real estate sector. Pending regulatory approvals, this acquisition marks GI Partners’ initial foray into data infrastructure investment in Europe. The deal will see ASK4 transition from its current investment partner, Bowmark Capital, further expanding GI Partners’ diverse portfolio.
ASK4, headquartered in Sheffield, U.K., delivers managed Internet, IT, and IoT services across 12 European countries, boasting a customer base of over 320,000. Under the stewardship of Bowmark Capital, ASK4 has fortified its market leadership and ventured into new business segments. “We look forward to our future with GI as we continue to serve our existing clients and broaden our services into multi-tenant communities across Europe and North America,” stated Andrew Dutton, CEO of ASK4.
The core focus of ASK4 is providing fully managed Wi-Fi connectivity in multi-tenant buildings catering to students, professionals, and retirees. “ASK4’s expertise is especially relevant for real estate investors and operators aiming to increase retention, re-bookings, and net operating income,” said Matt Barker, Managing Director and Head of Europe for GI Data Infrastructure.
Mark Prybutok and Brendan Scollans, Co-Heads of GI Data Infrastructure, highlighted the strategic value of the acquisition: “This is our first European investment in data infrastructure. ASK4’s mix of high-quality contracted revenues and compelling value-add growth potential makes it a highly compatible addition to our portfolio.”
With this acquisition, GI Partners not only gains a stronghold in the European data infrastructure market but also paves the way for ASK4 to continue its service expansion efforts both geographically and across various sectors.
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