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Private equity firm, management acquire majority stake in Peak 10

Thursday, September 2nd, 2010

Peak 10CHARLOTTE, NC – Welsh Carson, Anderson & Stowe, a private equity firm, and Peak 10′s executive management have acquired a majority stake in the company. Financial details were not disclosed.

Selling shareholders include majority owner Seaport Capital, a New York-based private equity firm and McCarthy Capital, an Omaha, Neb.-based private equity fund.

Peak 10’s existing management team, led by Co-Founder, President and CEO David Jones will continue to operate the business.

Jones said,  “Our partnership with Welsh Carson enables Peak 10 to continue increasing the scale of our business to meet the high demand for data center infrastructure and related managed services. Our strategic focus remains intact but our resources now position us to more rapidly extend our geographic footprint, strengthen our team and further accelerate our managed services and cloud offerings.”

Peak 10 has managed a path of steady and consistent growth achieved through expansion in the greenfield markets of Jacksonville, FL.; Charlotte, NC.; Tampa, FL. and Raleigh, NC, and through acquisitions of established data center companies in Louisville, KY; Nashville, TN.; Richmond, VA and, most recently, Fort Lauderdale, FL.

In 2007 and early 2008, Peak 10 opened greenfield data centers in Atlanta, Ga. and Cincinnati, Ohio respectively. Over the last two years Peak 10 has completed construction of additional facilities in five of its markets to meet customer growth and demand.

The transaction is expected to close in early October.