Private equity firm, management buy majority interest in Peak 10
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CHARLOTTE, N.C. – Private equity firm Welsh, Carson, Anderson & Stowe and Peak 10’s management are buying a majority interest in data center and information managed services provider Peak 10.
Financial terms were not disclosed.
Peak 10 operates a data center in Morrisville and two in Charlotte as well as other locations around the South.
Seaport Capital, a private equity firm, had been the majority owner. Also selling shares is McCarthy Capital.
David Jones, a co-founder and the chief executive officer at Peak 10, will continue in that role, the company said in the announcement.
“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,” Jones said. “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 [computing] offerings.”
The deal is expected to close in October.
Peak 10 announced in January that it had expanded its credit facility to $95 million.
The company launched in 2000. Other data centers are located in Jacksonville, Ft. Lauderdale and Tampa, Fla., Cincinnati, Atlanta, Louisville, Nashville and Richmond.
‘The company’s growth has been impressive and we are excited to add Peak 10 to our portfolio of business services companies,” said John Clark, general partner at Welsh Carson, in a statement.
Welsh, Carson, Anderson & Stowe has some $20 billion under management.
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