Equity giant Blackstone are in talks to buy stake in Winthrop

PRIVATE equity giant Blackstone is in talks to buy a controlling stake in Ballymount data centre business Winthrop Technologies

A Sky News report said the US firm is in talks to buy some or all of the Irish business, which could be valued at €816m.

In recent years, Winthrop’s business has shifted to specialise fully in construction of data centres across Europe, producing so called ‘turn-key’ projects for multinational clients, and was previously involved in projects in areas like life sciences and pharmaceutics.

Winthrop was founded in the 1990s by Barry English, who is the majority shareholder.

The company operates across nine European countries and last year commenced operations in Belgium. The business employs around 750 people and has been in expansion mode, announcing hundreds of new roles last year.

Its customers include Google and Microsoft, underlining the importance of contractors to service one of the global economy’s fastest-growing trends.

As well as Barry English, senior executives CEO Anne Dooley and MD Bernard Keane are also shareholders. Former Ryanair deputy CEO Michael Cawley is chairman of the board.

Winthrop reported last year that its turnover had exceeded £855m for the first time, with profits estimated at more than €100m.

The company expects to create hundreds of new jobs by the end of 2024.