Sale of Green Mountain to Azrieli Group
Torch Partners has acted as financial adviser to the Smedvig family office on the sale of Green Mountain AS to Azrieli Group Ltd., an Israeli publicly traded real estate investment and development company on the Tel Aviv Stock Exchange.
Founded in 2009, Green Mountain designs, builds and operates highly secure, innovative and sustainable colocation data centres in Norway. The data centres operate on low cost, 100% renewable power, with significant power efficiencies achieved from the cool climate. The company operates three high-quality sites in Norway, with core international customers from the cloud, HPC, finance and automotive industries.
Smedvig is a family office investing in property, private equity and direct investments and currently has $1.6bn assets under management.
The Azrieli Group has targeted the data centre industry as one of its main growth engines and sees the acquisition of Green Mountain as a way to accelerate its goal of becoming a leading data centre player in the European market.
)
)