HIG Capital has acquired a controlling stake in European data centre operator PolarDC Group for an unspecified sum.
The $65bn (€59.3bn) global alternative investment firm said its affiliates have acquired an interest in PolarDC, a company that develops, owns, and operates data center infrastructure.
Lian Group, an early-stage investor in PolarDC, will retain a minority stake in the company following HIG’s investment.
This acquisition is expected to enable PolarDC to deliver its near-term pipeline of projects.
PolarDC’s first data centre in Norway will have a capacity of up to 48MW when fully operational. The company is also developing several other data centre projects across Europe.
Andy Hayes, CEO at Polar, said, “We are delighted to partner with HIG. to develop our pipeline of projects. HIG’s investment in the company, combined with its track record of supporting high-growth, early-stage companies, will allow Polar to benefit from the rapid development of artificial intelligence.”
Andrew Liau, co-head of HIG Infrastructure, said: “We are extremely excited by this transaction as data centre infrastructure is becoming an increasingly critical enabler of the next wave of digital transformation.
“We look forward to working with Polar’s highly respected management team and our co-investor, LIAN Group, by bringing HIG’s extensive capabilities and relationships to support the company’s growth.”
Fiorenzo Manganiello, co-founder of Lian Group, said: “Polar’s future-proofed infrastructure will deliver truly innovative solutions as connectivity, power, and cooling demands grow among the world’s leading cloud computing providers.”
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