Armason sourced both the data centre and the buyer. Eryce acquired a live Coleraine facility it can grow into a full AI campus.
The deal at a glance
- Asset: Prescient Data Centre, Atlantic Link Enterprise Campus, Coleraine, Northern Ireland
- Capacity: 5MW, with room to expand into a full AI campus
- Buyer: Eryce
- Timeline: LOI submission to completion in under a month
- Route: Off-market. Armason sourced both the site and the buyer and introduced them
A live 5MW data centre has changed hands off-market in under a month, in a notable transaction for Northern Ireland’s data centre sector. Armason Advisory sourced both the asset and the buyer, then brokered the sale of Prescient Data Centre in Coleraine to Eryce. The whole acquisition ran from LOI submission to completion in under a month.
Nobody ran a sale process. Armason found the site, found the buyer and put them in the same room.
Two sides, one logical deal
Prescient’s owners were looking to exit the data centre space. Eryce was looking to source colocation capacity, and rather than lease it, chose to acquire a facility it can expand. Prescient fits that brief: a working 5MW site with a runway to grow into a full AI campus.
That is why it moved. A seller ready to leave the sector and a motivated buyer with a clear plan want the same thing, which is certainty and pace. Armason sourced the facility, identified Eryce as the right buyer and introduced them, then kept the process moving.
How it got done in under a month
Power, technical diligence, legal structuring and commercial terms all have to line up in a data centre acquisition, and any one of them can stall the whole transaction. Once introduced, Armason kept the timeline on track and stayed close to due diligence so both sides had what they needed when they needed it.
The result was a transaction that stayed transparent and moved at pace. Robert Feeney knows that better than most. He was operational lead at Prescient before the sale and moved across to Eryce when it acquired the business, so he is now Managing Director, Data Centres at Eryce and saw the deal from both sides.
“I found them to be very professional and exceptionally knowledgeable about the data centre business. It was a real pleasure working with them; they were attentive and worked expeditiously with both parties to ensure a transparent and stress-free transaction. Their attention to detail throughout the due diligence process was very much appreciated by both sides. I can highly recommend Armason as a company, and both Jordan and Brett as operators.”
Robert Feeney, Managing Director, Data Centres, Eryce (previously Operational Lead, Prescient)
What it says about the market
Buyers who need capacity are no longer waiting for the standard route to deliver it. Jordan Mason-Hyde, CEO of Armason, said:
“This deal shows demand for capacity driving sensible business decisions. Where capacity is available and a deal is there to be done, it can be, even if the traditional colocation route isn’t the desired approach. We are working with neoclouds and AI labs who are building deals in multiple ways to fulfil for their clients, from GPUaaS to colocation to powered land builds and full data centre acquisitions. That gives us a unique viewpoint into the market.”
Prescient is one example of a pattern we see across our work. Armason connects operators and offtakers with in-market opportunities in capacity, land and power, and supports transactions end to end across the data centre value chain.
Thank you
Thank you to Robert and the Prescient team, and to Eryce, for the way both sides worked through a tight timeline. Thanks also to lead counsel on each side, Gowling WLG for Eryce and RW Blears LLP for Prescient.
Contact
Jordan Mason-Hyde, CEO
jordan@armason.co.uk · armason.co.uk
