HIG Infrastructure, an affiliate of global alternative investment firm HIG Capital, has acquired a controlling interest in European data centre operator PolarDC Group.
Under the terms of deal, Lian Group, an early-stage investor in Polar, will retain a minority stake in the company.
Polar develops, owns, and operates data centre infrastructure for high-performance computing applications. It is currently developing its first data centre in Norway alongside several other projects across Europe.
The Norwegian facility will provide up to 48MW of capacity once fully operational, and will be powered using 100% renewable, hydroelectric power.
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.’
He added: ‘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.’
Andy Hayes, CEO at Polar, commented: ‘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.’
Fiorenzo Manganiello, co-founder of Lian Group, added: ‘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.’
