Partners Group, a private markets investment manager, through its Private Infrastructure group, today announced that it has agreed to purchase atNorth Holding AB, Iceland’s largest data center operator, from its existing shareholder group.

atNorth – Data Centers

atNorth, formerly known as Advania Data Centers, builds 100% renewable, power-efficient, and cost-optimized colocation data centers. Distinctively, the company utilizes local climate conditions and heat recovery systems to provide these power-efficient facilities.

Presently, atNorth operates two data centers in Iceland and has one project under construction in Stockholm, Sweden, which will commence operations in February 2022. At full build-out, these three facilities will offer 94.4 megawatts of power capacity and up to 4.2k racks across 242k sqft (22.5k sqm) of gross space.

Thor DC (ICE01)

atNorth’s Thor DC (ICE01) campus is located in the Reykjavík, Iceland capital area.

Thor DC ICE01 atNorth Data Center

Overall, the Thor data center campus offers 3.2 megawatts of committed power capacity and 250 racks across 29.1k sqft (2.7k sqm) of gross space. Additionally, the Thor facility targets a power usage effectiveness (PUE) ratio of less than 1.2.

Mjölnir DC (ICE02)

atNorth’s Mjölnir DC (ICE02) colocation facility is situated in close proximity to Iceland’s main airport, Keflavík International Airport, which is located ~30 miles (48 kilometers) from Reykjavík, the capital of Iceland.

Mjölnir DC ICE02 atNorth Data Center

Overall, the Mjölnir data center campus offers 80+ megawatts of committed power capacity and up to 3.0k racks across 148k sqft (13.8k sqm) of gross space. Also, the Mjölnir facility targets a power usage effectiveness (PUE) ratio of less than or equal to 1.1.

Sif DC (SWE01)

atNorth’s Sif DC (SWE01) campus is located in Kista, in northern Stockholm, Sweden.

Sif DC SWE01 atNorth Data Center

Overall, the Sif data center campus will, upon completion, offer 11.2 megawatts of available power capacity and up to 900 racks across 64.6k sqft (6.0k sqm) of gross space.

atNorth – Business Expansion and Customers

Partners Group intends to expand atNorth’s data center portfolio across the Nordic region, with a continued focus on sustainability and efficiency. Specifically, Partners Group will deploy capital, allowing atNorth to construct new sites, grow its contract portfolio, and build a connectivity ecosystem.

Under Partners Group’s ownership, atNorth will continue to be led by Eyjólfur Magnús Kristinsson as CEO and Eva Guðbjörnsdóttir as deputy CEO.

Customers

atNorth serves ~100 high performance compute (HPC), enterprise, and blockchain customers, including local and international companies.

For example, HIVE Blockchain Technologies (NASDAQ: HIVE), a cryptocurrency miner, is a customer at one of atNorth’s Iceland facilities. Particularly, HIVE Blockchain has an initial two-year agreement with atNorth for hosting and colocation services, including power usage, for its 4.0k GPU-based mining rigs.

Partners Group – Digital Infrastructure

Iceland’s atNorth marks Partners Group’s fourth digital infrastructure investment in 2021, which have also included the acquisitions of:

Mary Zhang covers Data Centers for Dgtl Infra, including Equinix (NASDAQ: EQIX), Digital Realty (NYSE: DLR), CyrusOne, CoreSite Realty, QTS Realty, Switch Inc, Iron Mountain (NYSE: IRM), Cyxtera (NASDAQ: CYXT), and many more. Within Data Centers, Mary focuses on the sub-sectors of hyperscale, enterprise / colocation, cloud service providers, and edge computing.

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