HIG Infrastructure Acquires Controlling Interest in Data Center Operator Polar.
H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $65 billion of capital under management, is pleased to announce that one of its affiliates has acquired a controlling interest in PolarDC Group Limited (“Polar” or the “Company”).
Polar develops, owns, and operates data center infrastructure targeting high-performance computing (“HPC”) applications. The Company’s first data center in Norway will provide up to 48MW of capacity once fully operational, and will be powered using 100% renewable, hydroelectric power. It will offer its customers best-in-class Power Usage Effectiveness, given the naturally colder Norwegian climate and modular design architecture. 100% of its initial capacity has already been presold.
The Company is actively developing several other data center projects across Europe. The Polar management team has extensive experience in developing and operating data center infrastructure, and H.I.G.’s investment will enable the Company to deliver its near-term pipeline. The Company will continue to benefit from the knowledge and expertise of its early-stage investors LIAN Group, who will retain a minority stake in the Company going forward.
Andy Hayes, CEO at Polar, said:
We are delighted to partner with H.I.G. to develop our pipeline of projects.
“H.I.G.’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 H.I.G. Infrastructure, said:
We are extremely excited by this transaction as data center 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 H.I.G.’s extensive capabilities and relationships to support the Company’s growth.”
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.
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HIG Infrastructure Acquires Controlling Interest in Data Center Operator Polar. source
