Bain Capital and Aquila Group Partner to Build a Leading Sustainable Data Center Platform Across Europe

• Bain Capital acquires majority share in Aquila Group’s data center business AQ Compute
• Together, the partners aim to build a leading European data center platform
• AQ Compute is intended to set new standards in sustainable data center operations

HAMBURG, GERMANY and LONDON, October 30, 2024 – Bain Capital, one of the world’s leading private investment firms, and Aquila Group, a private investment company and pioneer in sustainable assets, announce a significant partnership in the data center sector. As part of the cooperation, Bain Capital is acquiring an 80% stake in AQ Compute, the data center subsidiary of Aquila Group. This strategic alliance, with a targeted multi-billion Euro investment volume, is aimed at significantly accelerating AQ Compute’s plans to develop and operate sustainable data centers for hyperscale and AI customers across Europe. 

Founded by Aquila Group in 2020, AQ Compute provides modular and AI-ready data center and colocation services, primarily powered by clean energy. With significant investment, the company launched its first sustainable data center near Oslo in 2024, with additional projects underway in Barcelona, Milan and beyond. Bain Capital supports this growth through its capital investment and global expertise in the data center industry, including its successful development of Bridge Data Centers in Asia. Together, the partners aim to build a leading European data center platform, utilising clean energy wherever feasible.

Ali Haroon, a Partner at Bain Capital, said: “The European data center sector presents an attractive market opportunity, driven by robust cloud demand, a need for high-performance computing and AI deployments, and data sovereignty across the region. Through this partnership with Aquila Group, we bring a differentiated, renewable energy angle to tackle the ever-growing power challenges in this critical part of Europe’s infrastructure.”

Rafael Coste Campos, a Managing Director at Bain Capital, added: “We are thrilled to bring our deep European real estate sector expertise and our multi-layered experience growing companies with complex infrastructure services, tenant relationships and talent attraction to AQ Compute. Leveraging our global data center expertise, we are well-positioned to meet the needs of this ever growing and critically important sector and to build a market leading data center operation in Europe.”

Michael Huber, a Principal at Bain Capital said: “Having invested more than $1 billion in real estate over the past three years, Bain Capital’s first European investment in data centers means we now have a truly global platform. This investment will benefit from and complement our experience investing in and building one of the largest data center platforms in Asia – Bridge Data Centers and backing DC BLOX in the US.”

Roman Rosslenbroich, Co-founder and CEO of Aquila Group, commented: “Through our partnership with Bain Capital, we are well positioned to expand AQ Compute’s capabilities and solidify its role as a key player in Europe’s digital infrastructure. The rapid growth in data demands presents both a challenge and an opportunity — while more data centers are essential, they must be sustainable. Aquila will invest several hundred-million euros alongside Bain Capital’s larger commitment, with Aquila Capital providing co-investments. With our continued 20% stake, we will ensure AQ Compute’s growth aligns with our long-term vision for sustainable infrastructure, leveraging synergies with Aquila Clean Energy, a major developer and independent power producer in the clean energy space.“

Markus Holzer, Chairman of AQ Compute, said: “At AQ Compute, we are uniquely positioned to meet the growing demand for data processing by combining innovative, AI-ready infrastructure with a commitment to sustainability. This partnership with Bain Capital not only accelerates our development pipeline but also allows us to set new standards in sustainable data center operations across Europe.”

About Bain Capital
Bain Capital is one of the world's leading private multi-asset alternative investment firms that creates lasting impact for our investors, teams, businesses, and the communities in which we live. Since our founding in 1984, we've applied our insight and experience to organically expand into numerous asset classes including private equity, credit, public equity, venture capital, real estate, life sciences, insurance and other strategic areas of focus. The firm has offices on four continents, more than 1,750 employees and approximately $185 billion in assets under management. 

To learn more, visit www.baincapital.com.

About Aquila Group
Aquila Group, headquartered in Hamburg, Germany, is a private investment company managing a diverse portfolio of businesses focused on innovative solutions across various sectors. Since 2001, Aquila Group has been at the forefront of identifying emerging trends and fostering innovation, particularly in clean energy and sustainable infrastructure, while actively investing in the development of new ventures. As both an investor and developer, Aquila Group remains dedicated to driving long-term value creation and advancing solutions that contribute to a more sustainable future. Aquila Group’s portfolio spans investment management, industrial clean energy development and independent power production (IPP) across Europe and the Asia-Pacific region, as well as ventures in data centers, green logistics and Spanish residential real estate. With over EUR 25 billion in transactions and EUR 15 billion in assets under management, the company has established a solid track record. With around 700 employees across 19 offices globally, Aquila Group remains committed to avoiding 1.5 billion tonnes of CO2 equivalents across its portfolio’s lifetime by 2035.

To learn more, visit www.aquila-group.com.