Northern Data gets new capital with Gleiss

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The Frankfurt company Northern Data carried out a capital increase. The data center operator collected 52.5 million euros in this way.

Northern Data specializes in High Performance Computing (HPC) and corresponding, customer-specific infrastructure solutions that are necessary, for example, in research, big data analysis and Bitcoin mining. The company, which previously operated under Northern Bitcoin AG, merged with the American data center operator Whinstone US at the end of 2019 and then renamed itself Northern Data.

For further expansion in Europe, the company obtained approval for a capital increase at its general meeting in November. Shortly thereafter, it placed 900,000 new shares. According to JUVE, these were sold to Block One, a software and Bitcoin specialist on the Cayman Islands, to the Apeiron Investment Group, which is backed by German serial founder Christian Angermayer, and to other financial investors at a price of EUR 58.30. Northern Data also mentions support from its founding shareholder BlackMars Capital in a press release. The investment company was originally set up by the actor Matthias Schweighöfer, the film producer Dan Maag and the businessman Marco Beckmann.

Consultant Northern Data
Inhouse Law (Frankfurt): Michaela Huber (Head of Legal)
Gleiss Lutz (Frankfurt): Dr. Stephan Aubel (lead), Dr. Thorsten Gayk (Hamburg), Dr. Christina Aye, Alexander Gebhardt; Associates: Dr. Walter Andert (Berlin), Jannik Hermes (all corporate / capital market law)

Advisors to Apeiron Investment Group
Sullivan & Cromwell (Frankfurt): Dr. Carsten Berrar; Associate: Wolfram von Frankenberg (both corporate / capital market law) — known from the market

Adviser to Block One
Clifford Chance (Frankfurt): Dr. Thomas Krecek (Corporate), Philipp Klöckner (Corporate / Capital Markets Law); Associate: Lara Stelmach (Corporate) — known from the market

Notary
Gerns & Partner (Frankfurt): Ronald Gerns — known from the market

Background: The mandate relationship between Gleiss Lutz and Northern Data is still young: Gleiss partner Aubel was invited to the pitch in October based on a recommendation and then supported the preparations for the Annual General Meeting with his team.

In-house, General Counsel Huber accompanied the transaction and the preceding general meeting. Huber worked for the US law firm White & Case for 15 years before joining the company in the spring. She also knows the former partner Dr. Tom Schorling, who was elected to the Supervisory Board at the Annual General Meeting. Schorling has meanwhile taken over the management of the supervisory body.

The capital increase was carried out with the help of the private bank Hauck & Aufhäuser. However, as far as is known, they waived legal advice.

The investor Block One, who brought the former Clifford Chance partner Alex Erasmus on board as Chief Legal Office in 2018, now relied on the Magic Circle law firm. The team around corporate partner Krecek included capital markets lawyer Klöckner, who moved from Sullivan to Clifford in 2019.

The mandate relationship between Sullivan partner Berrar and Apeiron founder Angermayer has existed for several years and, according to reports, extends over various investments by the Bavarian investor. In autumn, for example, Apeiron also took a stake in TecPier, a venture capital investor for start-ups in the maritime industry, and in the prop-tech start-up Zenhomes.

It is not yet known whether the founding shareholder BlackMars Capital consulted separate advisors.


Northern Data gets new capital with Gleiss was originally published in FrankfurtValley on Medium, where people are continuing the conversation by highlighting and responding to this story.

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