Squire Patton Boggs Advises Management of atNorth on MBO by Partners Group

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Squire Patton Boggs has advised the management team on the management buy-out (MBO) of atNorth Holding BV, the largest data centre operator in Iceland, by Partners Group, the Switzerland-based global private markets firm. The terms of the transaction are not being disclosed.

The Squire Patton Boggs team advising the atNorth management team on the MBO and the terms of their rollover reinvestment and management equity plan, was led by private equity partner Ben Squires in London.

atNorth is a leading Nordic data centre services company offering environmentally responsible, power-efficient, cost-optimized data centre hosting facilities and high-performance computing services. It has two locations in Iceland that have a total committed power capacity of circa 83MW and a circa 11MW site under construction in Stockholm, Sweden which will start operations in February 2022. atNorth’s data centres are supplied entirely by renewable power and utilize local climate conditions and heat recovery systems to provide extremely power efficient facilities. The company serves around 100 clients across its High Performance Compute (HPC), Enterprise, and Blockchain customer segments, including local and international blue-chip companies.

Accelerating digitization, rising levels of IT outsourcing, new remote working trends, and continued innovation of cloud-based applications have increased demand for data processing capacity and highlighted the essential nature of data centres. Partners Group's vision is to transform atNorth into a leading pan-Nordic provider of sustainable and efficient data centre solutions. 

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