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November 2021 - January 2022

Private equity cash fuels Nordic datacentre growth

International private equity groups have scaled-up acquisition activities in the fast-expanding Nordic datacentre sector. IPI Partners’ takeover of DigiPlex and Azrieli Group’s purchase of Green Mountain, both in July, signal a new wave of mergers and acquisitions. Takeover interest in the Nordic datacentre industry has recently been driven by important legislative changes, particularly in Sweden and Norway. These offer attractive tax advantages to investors, and foreign and local investors are also being tempted by access to a substantial reservoir of renewable energy, offered at prices which are among the lowest in Europe. The acquisition of the Norway-based DigiPlex by IPI Partners underscores the growing attractiveness of Nordic datacentre assets for private equity groups augmenting their sustainable energy and green technology portfolios. Neither party disclosed the financial terms of the takeover deal. Chicago-headquartered IPI has made over €4.5bn in total equity capital commitments since 2016 to grow its hyperscale and ...

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