Investment firm Blackstone is reportedly leading the race to acquire data center construction specialist Winthrop Technologies.

barry english winthrop
Winthrop founder and majority shareholder Barry English – Winthrop Technologies

Sky News reports Blackstone is the frontrunner to acquire the Irish company for a price believed to be in the region of £700 million ($878m).

Precise details weren't shared, but Sky said Blackstone was aiming to take a controlling stake in the company.

Rothschild, the investment bank, is understood to be advising Winthrop on the talks. Neither Blackstone nor Winthrop provided the publication with comment.

Founded in 1995, Winthrop began as a traditional mechanical & electrical contractor across the data, center, commercial, pharmaceutical, and industrial sectors. Today the company primarily specializes in mission-critical projects and turnkey data center solutions.

With more than 750 employees, the company says it is currently constructing multiple turnkey data center projects in seven different European countries, equating to over 430MW.

According to its website, Winthrop had a turnover of over €685 million ($735m) in 2021 and delivered more than €1 billion ($1.1bn) in 2022

Winthrop, majority-owned by founder Barry English, was reported as seeking a potential buyer back in late 2022, potentially valuing the company at €250 million ($265m). Before that, the company turned to PwC in early 2021 to advise on a potential sale but instead decided on equity-release refinancing.

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