DC BLOX secures $187 million in finance deal
DC BLOX, a data centre operator based in the United States, has secured a long-term financing deal of US$187mn.
The funds, provided by investment companies Post Road Group and Bain Capital Credit, aim to allow the data centre operator to refinance their existing credit facilities and add liquidity to their balance sheet.
Post Road Group and Bain Capital Credit also hope the money will help to fund continued investments in the organisation’s existing and new data centre capacity.
Commenting on the deal, Jeff Uphues, CEO of DC BLOX, said: “This financing would have not been possible without the efforts of our team and represents a significant milestone for the company.
“The trust and partnership we have developed with the teams at Post Road Group and now with Bain Capital Credit are instrumental to our continued growth plans,” he said.
Chief Financial Officer of DC BLOX, Kevin O’Donnell added that the capital will be “immediately deployed to support growth in our existing facilities” and “accelerate the expansion of our Tier III-designed interconnected data center platforms in other markets throughout the Southeastern United States.”
Michael Bogdan, Managing Partner of Post Road Group expressed his excitement at the prospect of working with DC BLOX.
He said: “Post Road Group is excited to be a major investor in DC BLOX. We’ve worked extensively with their world-class management team for the past four years and enthusiastically support their strategy to bring superior data centers, connectivity, and storage infrastructure to growing Edge markets.”
Brian Hirschfield, Managing Director at Bain Capital Credit also expressed his enthusiasm for the deal.
“Edge computing, storage, and connectivity aggregation points are increasingly pushing outside of major metropolitan areas, and DC BLOX is well-positioned to capitalize on this expansion and deliver a state-of-the-art data center network to smaller markets.
“We look forward to the partnership with DC BLOX and to supporting the Company’s growth,” said Brian Hirschfeld, a Managing Director at Bain Capital Credit,” he said.
DC BLOX is one of only a few data centre operators to recieve an investment that palns to provide solutions for mid-market and Edge multi-tennant data centres.
About DC Blox
Based in Atlanta, Georgia, United States, DC BLOX owns and operates multi-tenant data centres which provide essential infrastructure and connectivity to power digital businesses.
DC BLOX has a private network fabric and robust connectivity ecosystem that enable access to carriers, and public cloud providers to Businesses across the Southeast.
The data centres owned by DC BLOX are located in Atlanta, Georgia; Birmingham, Alabama; Huntsville, Alabama; and Chattanooga, Tennessee, with Greenville in South Carolina spoon to be added to the list.