The Carlyle Group has sold Itconic, a Spanish cloud services business, to trade buyer Equinix.

The deal values Madrid-headquartered Itconic at €215m and delivers the buyout firm an exit after just two years.

Itconic provides cloud infrastructure services, including carrier-neutral datacentres, to clients including Bank of America, Real Madrid and Inditex. It has five data centres and last year bought CloudMas to add an enterprise hybrid cloud infrastructure offering.

Carlyle backed the company, then known as Telvent, and its chief executive Faustino Jiménez in May 2015. This is the first exit from Carlyle’s third European Technology Partners fund, which closed at €657m the same month.

Equinix is a global provider of data centres. It has 182 sites in 44 markets.