Beijing, 11 September 2025 – U.S. private equity firm Bain Capital has reached an agreement to divest its China data-centre business, operated under WinTriX DC Group, for 28 billion yuan (approximately US$3.93 billion) to a consortium spearheaded by Guangdong HEC Technology. The consortium also includes institutional investors and local government funds. Guangdong HEC and its controlling shareholder will inject an additional 7.5 billion yuan in capital into a joint venture to partially finance the acquisition. This information was confirmed in official filings and statements accessed via Reuters.
The final valuation places the China unit’s enterprise value at roughly 36 billion yuan, with formal closure anticipated in the first quarter of 2026 upon regulatory approvals.Reuters Guangdong HEC’s strengths in liquid cooling technology and supercapacitors align well with the AI-heavy, high-density computing infrastructure that WinTriX services demand. Leveraging its green energy assets, HEC aims to reduce operational costs and bolster competitiveness in the digital infrastructure ecosystem.
Bain Capital established its presence in China’s data-centre sector by acquiring Chindata Group Holdings in 2019, later merging it with Southeast Asia’s Bridge Data Centres. In 2023, it took the combined entity private in a US$3.16 billion deal and separated the Chinese operations under the WinTriX brand. WinTriX maintains data-centre operations across India and Malaysia and counts ByteDance—responsible for 86% of its 2022 revenue—as its largest client.
Implications for the Asia-Pacific Tech and Investment Landscape
For investors and infrastructure strategists, this transaction highlights the growing value and strategic importance of AI-backed data infrastructure in Asia. As clinics of digital expansion and compute-intensive applications proliferate, localized operational strengths such as cooling tech and sustainable energy frameworks are critical differentiators.
This move also reinforces domestic consolidation trends in China’s infrastructure sector, with firms like Guangdong HEC leveraging M&A to carve out leadership positions. Meanwhile, Bain retains its platforms in Southeast Asia, positioning Bridge Data Centres for continued growth amid rising data demand.
Source: Reuters
