Overview
International law firm McDermott Will & Emery advised one of the affiliates of H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $65 billion of capital under management, on acquiring a controlling interest in PolarDC Group Limited (“Polar” and “The Company”).
McDermott’s team was led by partner Fatema Orjela and included counsel Elisa De Carolis with associates Arjun Sehgal, Tom Johnson and Marc-us Ong, and trainee solicitor Yomna Zentani also advised.
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, hydro-electric 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.
Read H.I.G.’s press release here.
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