H.I.G. Capital, a global alternative investment firm managing $65 billion in assets, has revealed that one of its affiliates has obtained a majority stake in PolarDC Group, a European enterprise specializing in the design, construction, and management of data center infrastructure.

PolarDC focuses on high-performance computing (HPC) applications, which encompass artificial intelligence (AI) workloads. This acquisition is anticipated to bolster Polar’s growth and speed up the progress of its data center initiatives across Europe. The financial specifics of the deal have not been made public.

The company’s inaugural major data center, situated in Norway, is expected to boast a capacity of 48 megawatts (MW) and will be fully powered by hydroelectric energy drawn from renewable resources. The location in Norway, recognized for its cooler climate, along with a modular construction strategy, is intended to achieve industry-leading Power Usage Effectiveness (PUE), a vital indicator of energy efficiency in data centers. The capacity of the facility has already been completely reserved through preorders, highlighting strong demand for its offerings.

Additional Data Center Projects in Europe

With fresh investment from H.I.G. Capital, PolarDC intends to grow its presence by developing more data center projects throughout Europe. This funding will allow Polar to implement its impending project pipeline while leveraging the extensive expertise of its management team, known for its success in data center infrastructure development and operations. LIAN Group, one of Polar’s initial investors, will maintain a minority stake and continue to offer strategic counsel.

“We are excited to collaborate with H.I.G. to expedite the growth of our data center pipeline,” stated Andy Hayes, CEO of Polar. He pointed out H.I.G.’s proficiency in assisting rapidly growing companies and its potential to enable Polar to take full advantage of the swift advancements in AI technology.

Andrew Liau, Co-Head of H.I.G. Infrastructure, conveyed enthusiasm regarding the collaboration. “Data center infrastructure is increasingly vital to the next stage of digital transformation,” Liau commented. “We anticipate working closely with Polar’s skilled management team and co-investor LIAN Group to propel the company’s expansion.”

Fiorenzo Manganiello, co-founder of LIAN Group, highlighted Polar’s innovative methods, stating, “Polar’s future-proof infrastructure will deliver cutting-edge solutions as the need for connectivity, power, and cooling escalates among global cloud computing providers.”

PolarDC’s data centers are designed to accommodate high-performance computing workloads, emphasizing sustainability and operational efficiency. The company’s pledge to rely solely on renewable energy and its modular design strategy facilitate scalable and flexible solutions, reducing disruptions to business functions while ensuring high energy efficiency.