InfraRed Capital Partners has invested an undisclosed sum to acquire a majority stake in Spanish data centre platform NxN Data Centers.
NxN is a Spanish joint venture, formed in 2023 by Nethits Telecom Group and asset manager Adequita Capital.
InfraRed, alongside minority investor Adequita, will support the development of NxN’s first asset, a 5MW facility located in Valencia, as well as ongoing expansion opportunities across the Iberian Peninsula.
Pilar Banegas, partner at InfraRed, said: “NxN represents an exceptional opportunity to establish a data centre platform within Spain’s fast-growing digital landscape. We are pleased to be working with Adequita, whose experience and relationships across Spain will be valuable for scaling the company.
“We will also draw on our experience developing nexspace, our DACH data centre business, as we support the impressive NxN leadership in building this investment.”
Javier Salas, founder and executive chairman of both Nethits and NxN Data Centers, said: “We are delighted to partner with InfraRed to deliver high-quality, energy-efficient data centres in Spain. By leveraging InfraRed’s experience in growing data centre businesses, we are well positioned to execute our vision for NxN: to deliver best-in-class data centre infrastructure supporting Spain’s digital transformation.
“This initiative is underpinned by the extensive track record that Nethits has built over more than 20 years in the telecommunications sector.”
Josep Adsera, principal at Adequita, said: “We welcome InfraRed as the majority investor in NxN. Their investment not only reinforces the strength of the NxN platform, but also enables it to accelerate its next phase of growth.
“We look forward to working closely together to continue delivering resilient infrastructure solutions and long-term value for all stakeholders.”
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