AirTrunk is reportedly being put up for sale, with its current owners setting a price tag of up to AU$12 billion (US$7.9bn) on the Australian data center operator.

The company’s backers, which include Macquarie Asset Management (MAM) and PSP Investments, could start formal sale proceedings in a matter of weeks, Bloomberg reported today.

An AirTrunk data center in Sydney. The company could be put up for sale. – AirTrunk

Founded in 2015, Airtrunk operates data centers across the Asia Pacific region, with hyperscale facilities in countries including Australia, Japan, and Singapore.

It has plans to open at least five more data centers, including a 320MW site in Sydney.

Buyers lined up to purchase AirTrunk

AirTrunk’s owners would seek up to AU$12 billion for the company, the Bloomberg report said, citing multiple people familiar with the discussions.

It is thought private equity firms and infrastructure-focused funds have already shown preliminary interest in acquiring the company. However, AirTrunk’s backers could still decide against going ahead with the sale, and could instead sell a controlling or partial stake in the business.

A consortium led by MAM took a controlling interest in AirTrunk in 2020, in a deal that valued the company at AU$3bn. It reportedly told investors last year that it has trebled its contracted income since the MAM take-over.

DCD has contacted AirTrunk, MAM, and PSP for comment on the report.

Sale talk ends AirTrunk IPO plans

News of the potential sale of AirTrunk comes just three months after its owners were reportedly looking to take the company public via an initial public offering (IPO).

As reported by DCD in September, MAM and PSP had been investigating a listing on the Australian Securities Exchange, and contacted seven investment banks requesting pitch ideas around a capital review looking at a potential listing.

The AirTrunk IPO would have valued the business at more than AU$10bn (US$6.4bn), it was reported at the time.