Toronto, May 25, 2016 /Business Wire/ – Forum Equity Partners (“Forum”) and its consortium, Uptime Infrastructure Partners, today announced the financial close of the Enterprise Data Centre Expansion Project (the “EDC Project”) located at the Canadian Forces Base in Borden, Ontario. This innovative Public Private Partnership (“P3”) with Shared Services Canada (“SSC”) and Defence Construction Canada (“DCC”) will feature a 50,000 square foot, state-of-the-art, mission critical operating data centre.
The estimated total Project cost is $322 million and construction is expected to start in the summer 2016, with the expanded data centre facility ready to begin receiving workloads from federal partner organizations in Fall 2017. The EDC Project will be LEED Silver certified during both the construction and operating period of the facility and will meet the Uptime Institute’s 2012 Tier III Data Centre Infrastructure Tier Standards. The operational term of the Project is 25 years, after service commencement.
“We are excited to lead the development of this flagship facility at the Canadian Forces base in Borden, Ontario. The Project will help to consolidate approximately 500 data centres currently managed by the Federal government, down to seven centres,” said Richard Abboud, President and CEO of Forum Equity Partners.
“Forum is proud to partner with Shared Services Canada and Defence Construction Canada to deliver the Enterprise Data Centre Project. Forum and its partners have developed an innovative solution that is both, more energy efficient and cost-effective than the existing data centres,” said Rupesh Amin, Managing Partner of Forum Equity Partners.
Under the partnering agreement, Forum is EDC Project lead and acts as asset manager of the partnership entity. Forum will provide 50% of the equity required and Balfour Beatty Investments will provide the remaining 50% of the required equity. Manulife provided senior debt financing to the EDC Project by way of a private placement. Construction services will be delivered by Walsh Canada. Ehvert Mission Critical will be the lead engineer, architectural services will be provided by WZMH and Brookfield Global Integrated Solutions Canada GP Ltd. will be the facilities manager. Three consortia were shortlisted to compete in the Request For Proposal process before Uptime Infrastructure Partners was ultimately selected as the preferred partner, providing the best value to Canadians.
Ernst & Young was financial advisor to Forum and Royal Bank of Canada (RBC) acted as arranger and underwriter.
Forum Equity Partners is an alternative asset private capital investor with a focus on energy & renewables, infrastructure and real estate. Headquartered in Toronto, ON, with an office in Vancouver, BC, and $1.3 billion enterprise value of assets under management, Forum is committed to achieving aggressive growth through investments and partnerships across rapidly emerging industries and markets, with innovative structures and unconventional investment approaches. For more information, please visit: www.forumequitypartners.com
SOURCE: Forum Equity Partners