server room

Montréal, August 6, 2019 – Caisse de dépôt et placement du Québec (CDPQ) and Fengate Asset Management (Fengate) are pleased to announce a new co-investment in eStruxture Data Centers, a Québec-based data center operator serving companies and cloud service providers.

This new capital commitment is in place to support eStruxture’s growth strategy, which is focused on acquisitions, the expansion of existing data centers, and the construction of new data centers.

eStruxture currently operates five data centers; three in Montréal and two in the Vancouver area. The new CDPQ and Fengate co-investment enabled the company to acquire a new data center from Shaw Communications in Calgary, significantly strengthening its presence in the leading technology hub of Western Canada.

CDPQ’s and Fengate’s latest joint capital commitment will also enable eStruxture to accelerate the expansion of its existing data centers, including the facility located in Montréal’s historic Gazette building. Once the planned expansion is complete at this Montréal location, the facility will feature more than 17,300 m2 of space and 30 megawatts of capacity, making it one of the largest, most power-dense data centers in the Montréal area.

“With this reinvestment, CDPQ is continuing to support a rapidly growing Québec company that operates in a booming industry,” said Charles Emond, CDPQ’s Executive Vice-President and Head of Québec Investments and Global Strategic Planning. “As companies change and grow, their cloud computing, network, data storage and power supply needs continue to increase exponentially. eStruxture is well positioned to capitalize on the major digital transition currently underway.”

“Since joining eStruxture as a co-lead investor, we continue to be impressed with the capability of the company’s management, working closely with our team, to firmly deliver on their growth strategy,” said Justin Catalano, Managing Director and Group Head, Private Equity, at Fengate. “eStruxture’s momentum and focus stand out in the competitive data center industry, and the stable, long-term cash flow profile fits with investment strategy we have in place to meet the needs of our investors.”

“We are very fortunate to have partners such as CDPQ and Fengate who not only recognize the value of investing in the robust, fast-growing data center market but also support and align with eStruxture’s long-term growth strategy of becoming Canada’s leading provider of cloud and carrier-neutral data center services,” said Todd Coleman, President and CEO of eStruxture Data Centers

In June 2017, CDPQ subscribed to the share capital of eStruxture, a newly incorporated company whose goal was to become a dominant Canada-wide data center platform. Fengate joined as a co-lead investor in January 2018. Just two years later, eStruxture now serves more than 900 customers, including telecommunications companies, cloud service providers, media companies and content developers, financial services providers, etc.