IPI Partners, LLC, a worldwide investment platform focused entirely on data centers and other technology and connectivity-related real assets, will acquire 100% ownership of all DigiPlex Group companies. DigiPlex is a large Nordic developer and operator of scalable, secured, and sustainable colocation data centers. Following the purchase of Milan-based SUPERNAP Italia in February 2021, DigiPlex is IPI’s second acquisition in Europe.

With a combined footprint of 21,000m2 constructed white space and over 400,000m2 of land now available for customer development, DigiPlex runs eight colocation data centers spanning campuses in the main Nordic markets of Oslo, Norway; Stockholm, Sweden; and Copenhagen, Denmark.

DigiPlex has always believed that digital transformation and sustainability should go hand in hand, and it has received several accolades for its energy-saving solutions and environmental activities. DigiPlex’s “cutting-edge” facilities are powered entirely by renewable energy sources. Financial terms of this data center acquisition were not disclosed.

Scalability Options for DigiPlex

“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,” said Wiljar Nesse, CEO of DigiPlex. “We believe this acquisition is an acknowledgement of our strong customer relationships and proven business model, and that employees and customers alike will benefit as we accelerate our plans and expand our vision in partnership with IPI.”

IPI Partners will achieve a substantial leading position in Northern Europe by acquiring DigiPlex. The deal gives IPI a significant footprint in the region at once, as well as the ability to expand to meet the needs of hyperscalers and big colocation tenants.

DigiPlex aims at using its track record of creating campuses for clients to quickly expand into comparable European markets. The deal would provide DigiPlex with cash, experience, and contacts to help it accelerate its next stage of expansion in the Nordics and beyond.

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Photo Wiljar Nesse, CEO of DigiPlex
“At a time of rapid growth for the industry, IPI provides near-term scalability to DigiPlex,” said Wiljar Nesse, CEO of DigiPlex.

Privately Held Data Center Portfolio

IPI is a global leader in the acquisition, development, leasing, and operation of key digital infrastructure assets for big, high-quality technology businesses. IPI, which is co-sponsored by ICONIQ Capital, LLC and an affiliate of Iron Point Partners, LLC, would take advantage of the sponsoring businesses’ combined leadership, strategic knowledge, and worldwide network.

IPI has raised more than $5.25 billion in total equity capital commitments over the last five years, building one of the world’s biggest privately held data center portfolios focused on the hyperscale and corporate sectors.

“DigiPlex is a market leader in the high-growth Nordic data center 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 center portfolio in Europe, a key region of focus for IPI,” said Matt A’Hearn, Partner at IPI. “We are excited to partner with the DigiPlex team to further realize on the company’s tremendous growth potential. Utilizing our network and existing businesses, we believe we can together build a platform that meets the rapidly evolving needs of the digital economy in the Nordics and beyond.”

In this transaction, RBC Capital Markets acted as the only finance advisor, and Latham & Watkins and Wikborg Rein served as legal consultants to DigiPlex. IPI received legal advice from Gibson, Dunn & Crutcher LLP, Schjodt, and Lundgrens. Mandated Lead Arranger was Deutsche Bank Credit Solutions and Direct Lending.