LXi REIT plc was a closed-ended investment company, listed on the London Stock Exchange with a market capitalisation of c. £1.9 bn (as at 31 Jan 2023), providing investors with inflation-protected, sustainable income and capital growth underpinned by a secure, resilient and diversified portfolio of UK commercial property assets, let or pre-let on very long-term, inflation-linked leases, to a wide range of strong tenant covenants across a diverse range of robust property sectors. The Company was acquired by LondonMetric Property plc in March 2024.
About the transaction:
Akur provided financial modelling advice and delivery to the Company
Digital 9 invests in digital infrastructure assets to deliver a reliable, functioning internet. Its assets comprise scalable platforms and technologies including subsea fibre systems, data centres, terrestrial fibre, and wireless infrastructure. D9 is investing in those critical digital assets comprising the “backbone” of the internet.
About the transaction:
Akur acted as sole financial adviser to D9 on this equity fundraise.
State of Play Hospitality is a rapidly growing international operator of technology-enabled, premium experiential entertainment concepts. Since launching its first concept, Bounce, in London in 2012, State of Play has gone on to launch and operate several more industry leading experiential concepts in the USA and UK including AceBounce, Flight Club (operated under licence), and Hijingo.
About the transaction:
The new funding builds upon State of Play’s initial raise of more than $35m from existing investors and Bregal Partners in March 2022.
Red Engine’s investment gives it a minority stake in State of Play and Steve Moore, co-founder and chief executive of Red Engine, will join the board as a non-executive director. Red Engine is the owner of the Flight Club brand which State of Play licences in North America. Akur acted as exclusive financial adviser to State of Play on the minority investment by Red Engine.
Digital 9 invests in digital infrastructure assets to deliver a reliable, functioning internet. Its assets comprise scalable platforms and technologies including subsea fibre systems, data centres, terrestrial fibre, tower infrastructure and small cell networks (including 5G).
D9 is investing in those critical digital assets comprising the “backbone” of the internet.
About the transaction:
Akur advised D9 as sole M&A adviser in the acquisition of 100% of Volta Data Centres for £45m. Volta wholly owns and operates a premier data centre facility based in central London, providing co-location services. This acquisition delivers on D9’s metro edge data centre strategy, identifying facilities located in or near urban centres offering robust connectivity to customers which require low latency solutions. The consideration was satisfied by 100% in cash.
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