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Charlotte-based Frontier Capital sells stake in Peak 10

Peak 10

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Frontier Capital, a private equity firm based in Charlotte, is no longer an investor in data hosting and managed services provider Peak 10.

McCarthy Capital Corporation, which is based in Omaha, Neb., said Wednesday that it had purchased Frontier’s stake in Peak 10.

On its web site, McCarthy calls the investment a “recapitalization” for Peak 10.

Financial terms were not disclosed.

Peak 10 operates data centers across the southeast, including Charlotte, Atlanta and Morrisville, N.C.

“McCarthy has a proven track record of engaging and supporting their portfolio companies’ management teams,” said Peak 10 Chief Executive Officer David Jones. “We look forward to a continuation of the strong board relationship that has contributed to our strategic success.”

Seaport Capital remains the majority stockholder in privately held Peak 10.

“We are pleased to partner with the management of Peak 10 and Seaport Capital in this growing and well-positioned business,” said Patrick Duffy, a partner at McCarthy Capital, in a statement. “We believe Peak 10’s people and breadth of service offerings provide substantial opportunities for growth.”

As part of the deal, Duffy joins the Peak 10 board.

McCarthy Capital, which has more than $500 million under management, also has offices in Denver and Boston.

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