Partners Group, a Swiss-based private equity firm, has taken a majority stake in AVK as part of an initial investment worth more than $1 billion, marking the first external funding secured by the company in its 36-year history.

The deal will see Partners Group provide AVK with capital to expand its existing business and develop on-site power infrastructure for data centres under an energy-as-a-service model. It will also see Ben Pritchard remain on as CEO, while also retaining a significant shareholding in the company. 

This is just the latest blockbuster deal in the data centre space, with investment in the sector having reached an all-time high in recent years. That insatiable appetite for data centre dealmaking has also continued throughout 2026, with the $1 billion investment in AVK just the tip of the iceberg. 

It’s not exactly a surprise to see the sector reaching new highs when it comes to investment, with the AI boom leaving private equity firms across the globe clamoring to grab a slice of the action. That’s why we’re not just seeing deals surrounding actual data centre operators, such as BlackRock’s $40 billion deal to acquire Aligned Data Centers, but also in the industries that are helping enable the sector to grow. 

There’s no secret that data centre developers across the UK and Europe are struggling with lengthy grid connection queues and limited access to available power. These constraints have made the ability to secure electricity supplies quickly an increasingly important consideration for operators. 

That’s why we’re starting to see unique solutions to solving those problems, such as AVK’s deployment of Europe’s first microgrid at a data centre site in Ireland. 

What will the $1 billion investment be used for? 

A significant part of the investment from Partners Group will be used to expand AVK’s energy-as-a-service offering, through which the company will fund, develop, own and operate on-site power infrastructure such as microgrids.

Rather than paying the upfront cost of developing the infrastructure themselves, data centre operators will be able to purchase electricity through power purchase agreements. AVK says this could also transfer some of the financial and delivery risk associated with large-scale energy projects away from the customer – but it does place the burden back on AVK, requiring it to have the capital to back it up. 

The company currently has a pipeline of more than 2 GW of potential projects that could be delivered through the model.

Ben Pritchard, Chief Executive Officer, AVK, noted, “Speed-to-power is now a defining opportunity for European data centre operators. Our new partnership with Partners Group will allow us to meet our customers exactly where the market demands. From the moment we launched our first microgrid, we recognized the challenge and the opportunity facing developers and operators globally. By adding capital to our power solutions portfolio, we can turn speed-to-power from an ambition into action. I am excited to lead AVK into this new chapter alongside Partners Group, leveraging the firm’s deep operational expertise in the data centre sector and power markets.”

Power constraints shape investment

Partners Group has previously invested in both decentralised energy infrastructure and data centres, including the pan-Nordic operator atNorth, which it later sold. It has also invested in companies providing behind-the-meter energy systems for data centres in the US.

The investment in AVK brings those two areas together at a time when access to power is becoming one of the most significant barriers to data centre development.

Nicholas Pepper, Managing Director, Infrastructure, Partners Group, commented, “AI is driving one of the largest infrastructure buildouts in decades, and access to power is becoming a defining constraint.

“This constraint and lengthening connection queues are critical bottlenecks to growth in the European data centre market, which onsite generation can alleviate by accelerating speed-to-power. AVK, with its deep expertise, track record, and pan-European footprint, is well-positioned to address this issue as a one-stop-shop for data centre power solutions. We see an exciting growth opportunity for AVK and we look forward to supporting the management team in its next chapter.”