Through the transaction, which is expected to close in Q3 2021, IPI will acquire 100% ownership of all DigiPlex Group companies.
DigiPlex operates eight data centres across campuses in Oslo, Norway; Stockholm, Sweden and Copenhagen, Denmark - which total 40MW in available power and which are all powered by 100% sustainable sources.
The transaction brings IPI an immediate strong presence in the region as well as capacity for expansion to accommodate the requirements of hyperscalers and major colocation tenants, it said.
“DigiPlex’s long and successful history of developing campuses for customers will be leveraged to rapidly expand into complementary markets in Europe,” said IPI.
DigiPlex is IPI’s second acquisition in Europe, following the purchase of Milan-based SuperNAP Italia in February 2021. As that campus delivers 40MW of capacity, the latest transaction doubles IPI's European capacity.
IPI is co-sponsored by ICONIQ Capital and is an affiliate of Iron Point Partners. Over the past five years, IPI has built a data centre portfolio focused on the hyperscale and enterprise markets and has raised more than $5.25 billion in total equity capital commitments.
In 2019, IPI created the Stack Infrastructure data centre business from integrating acquired data centre facilities.
Matt A’Hearn, partner at IPI, said: “DigiPlex is a market leader in the high-growth Nordic data centre sector and we have long admired the quality of its management, employees and business strategy.
“With DigiPlex’s existing scaled presence and deep development expertise, we will significantly expand our hyperscale-focused data centre portfolio in Europe, a key region of focus for IPI.”
Wiljar Nesse (pictured), CEO of DigiPlex, added: “At a time of rapid growth for the industry, IPI provides near-term scalability to DigiPlex. New capital, as well as a global footprint and access to global supply chains, relationships and customers, are expected to supercharge our growth, enabling us to continue meeting the hyperscale demand that we are experiencing.”
