An affiliate of H.I.G. Capital, a global alternative investment firm with $65 billion of capital under management, has acquired a controlling interest in PolarDC Group, a European owner and operator of high-performance computing (HPC) data center facilities. Financial terms were not disclosed.
Polar develops, owns and operates data center infrastructure targeting HPC applications. The company’s first data center in Norway will provide up to 48 megawatts of capacity once fully operational and will be powered using 100 percent renewable, hydroelectric power. It will offer its customers best-in-class power usage effectiveness, given the naturally colder Norwegian climate and modular design architecture.
According to H.I.G., 100 percent of its initial capacity has already been presold.
Polar also is actively developing several other data center projects across Europe, and H.I.G.’s investment will enable the company to deliver its near-term pipeline.
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