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Firmus to begin construction for cloud data centre
Australian data centre developer Firmus has successfully financed the construction of infrastructure for its flagship site in Launceston, Tasmania.
Lauren Croft
Firm: Gilbert + Tobin (Firmus).
Area: Construction, technology.
Value: N/A.
Key players: The G+T team was led by banking and projects partner Robert Trowbridge and corporate advisory partner Kevin Ko, with support from lawyer James Frixou on the financing and lawyer Wes Bainbridge on the equity raise. Lawyers Hannah Bragge, Jessica Liang and Arda Reznikas, consultant Suné Crafford and graduate Rocky Lagudi also assisted.
In addition, partners Hanh Chau and Julian Cheng co-ordinated the tax structuring aspects of the transaction, with support from lawyers Alina Sedmak and Matthew Charman.
Deal significance: The complex transaction was run alongside a successful $39.25 million pre-IPO raise with strong support from institutional investors.
Firmus’ data centres are among the most cost effective, efficient, and sustainable in the world. The developer is building and hosting Supercloud, a GPU-focused computational cloud for AI and ML applications, providing powerful, sustainable and affordable IaaS access to researchers and commercial users.
Banking and projects partner Robert Trowbridge said: “We are proud to have been involved in this milestone and transformative transaction for Firmus and its financier, which involved complex structuring on an extremely tight timetable.
“We were able to assist Firmus in delivering a unique financing package which will allow Firmus to significantly ramp up its data centre capabilities and unlock future development opportunities,” he added.
Corporate advisory partner Kevin Ko said: “Firmus’ cloud computing and energy stabilisation services are helping to build the financial infrastructure of tomorrow whilst supporting the transition to renewable energy.
“It’s been enormously satisfying for us to work with Firmus on this unique transaction.”
Lauren Croft
Lauren is a journalist at Lawyers Weekly and graduated with a Bachelor of Journalism from Macleay College. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications and Travel Weekly. Originally born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. She is also a keen snowboarder and pre-pandemic, spent a season living in a French ski resort.
