RALEIGH, NC – Peak 10 Inc., a managed services company and data center operator, and Welsh, Carson, Anderson & Stowe, a private equity firm, have closed a transaction in which Welsh Carson has become the majority shareholder of Peak 10.
As part of the acquisition, Peak 10 has closed a new credit facility for $155 million.
Peak 10’s existing management team, led by Co-Founder, President and CEO David Jones will continue to operate the business. The $155 million credit facility will be used to accelerate Peak 10’s growth plans in managed services and high-growth markets.
“This is a tremendous milestone for our management team and entire company,” said Brian Noonan, executive vice president and chief financial officer.
Two members of the Welsh Carson team, John Clark and Darren Battistoni, will now serve on Peak 10’s board, with Clark serving as chairman. The company will continue its successful track record of organic growth through construction of additional data centers in its existing markets, the addition of greenfield markets, strategic acquisitions and expansion of its service portfolio to meet increasing customer demand.
“We have worked with the Peak 10 management team for several years and have always been impressed by its careful and tactical use of financial resources,” said Ken Klassen, Managing Director, at RBC Capital Markets. “For this very reason, we continue to support Peak 10’s growth strategy and are excited to see it capitalize on the opportunities that lie ahead.”
Peak 10 combines its secure, private network and enterprise-class data centers with world-class engineering and support to serve market-leading companies nationwide.
Peak 10 offers a wide range of technology offerings including virtualization, managed hosting and cloud-based services in a cost-efficient and reliable platform for its customers. The company owns and operates data centers in ten key markets that include Cincinnati, Ohio; Atlanta, Ga.; Raleigh and Charlotte, N.C.; Tampa, Jacksonville and Fort Lauderdale, Fla.; Nashville, Tenn.; Louisville, Ky.; and Richmond, Va.
CHARLOTTE, 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.
