Welsh, Carson, Anderson & Stowe to Acquire Majority Position in Peak 10
Peak 10 Inc., a managed services company with data centers world-class, and Welsh, Carson, Anderson & Stowe (“Welsh Carson”), a leading private equity firm, have entered into a transaction that Welsh Carson Peak 10 executive and management will become the majority shareholder of Peak 10. selling shareholders include majority owner Seaport Capital, a private equity firm based in New York and McCarthy Capital, a fund of Omaha, private equity based in Nebraska.
Team Peak 10’s existing management, led by Co-Founder, Chairman and CEO, David Jones, will continue to operate the business. David Jones stated, “Our partnership enables Welsh Carson Peak 10 to further increase the scale of our business to meet the high demand for data center infrastructure and managed services. Our strategic focus remains intact, but now our resources positions us to rapidly expand our geographic presence, strengthen our team and further accelerate our range of managed services and cloud.
Since the inception of the company in 2000, Peak 10 has achieved a track record of steady and consistent growth achieved through expansion in the market for new facilities in Jacksonville, Florida, Charlotte, North Carolina, Tampa Florida, and Raleigh, North Carolina, through acquisition of the data center companies in Louisville, Ky., Nashville, Tennessee, Richmond, Virginia and most recently, Fort Lauderdale, Florida in 2007 and early 2008, opened 10 centers peak data in new facilities in Atlanta, Georgia and Cincinnati, Ohio, respectively. During the past two years than 10 has completed the construction of additional facilities at five of its markets to meet customer growth and demand.
“Through organic growth and strategic acquisitions and new development activities in new markets, Peak 10 management team has continually exceeded its jurisdiction. The company’s growth has been impressive and we are very pleased to add 10 to peak our portfolio of business services companies, “said John Clark, general partner of Welsh Carson.
“We are very proud that Welsh Carson, one of the largest venture capital firms and private successful United States is investing in 10-odd of our leadership team,” said David Jones. “Since founding the company, we have remained focused on being an industry leader and have always invested significant capital success based on our existing facilities and strategic acquisitions. Continuously improve and update our technology solutions for our customers. More than ever, our management team remains committed to expansion into new metropolitan markets with attractive growth prospects and deepening services that provide scalable solutions to our customers. ”
“Seaport Capital has enjoyed his 10-year partnership with Peak 10,” said Scott McCormack, a partner at Seaport Capital. “Working with and support the vision of the Peak 10 management team to grow the business from two sites in a data center facilities and leading provider of managed services as a regional super power in ten markets has been a great experience and we want the team and the company continued success in the future. ”
The transaction is expected to close in early October. Signal Hill Capital Group LLC acted as exclusive financial advisor to Peak 10 in connection with the transaction. Womble Carlyle Sandridge & Rice, PLLC are serving as legal counsel for more than 10, and Kirkland & Ellis LLP is acting as legal adviser in Wales, Carson, Anderson & Stowe in connection with this transaction.
About Welsh, Carson, Anderson & Stowe
Welsh, Carson, Anderson & Stowe is one of the largest and most successful private equity investment firms in the United States. Since its founding in 1979, the firm has organized 15 limited partnerships with total capital of $ 20 billion. Welsh Carson focuses its investment activity in two target areas: information and business services and healthcare. Carson Wales is investing equity fund, Welsh, Carson, Anderson & Stowe XI, LP, and a specific fund of subordinated debt, WCAS Capital Partners IV, LP Additional information is available at www.welshcarson.com.
About Puerto capital
Seaport Capital is a private equity firm focused on investments in communications, business services and information, and media companies. With over 500 million dollars of private capital and management for over fifty years of cumulative investment experience, professional port capital investment has an outstanding record of making growth and investment buying in private companies comprehensive knowledge of the industry, experience and creativity. The key to successful registration Seaport Capital has been and remains a commitment to partnership with senior management and ensure that their interests are aligned through ownership stakes and shared strategic vision. For more information, visit www.seaportcapital.com.
About McCarthy Capital Corporation
Headquartered in Omaha, NE, with offices in Denver and Boston, McCarthy Capital is a private equity firm focused exclusively on middle market companies. McCarthy Capital manages $ 500 million in private equity assets and commitments of capital. For more information about McCarthy Capital, please visit www.mccarthycapital.com.
About Peak 10 Inc.
Peak 10 is a managed services data centers with world-class. It offers scalable, economical and reliable hosting and managing complex infrastructure of information technology. The company’s team of experts covers the development of industrial technologies through the adoption and adaptation of solutions such as virtualization and cloud-based services as part of a robust managed service offering. Your strong customer orientation, financial stability, geographic diversity and technical capacity to attract market-leading companies such as LendingTree, Global Knowledge, Pergo, Healthways and Churchill Downs. Peak 10 is SAS70 Type II meets and helps companies meet the requirements of various regulatory compliance acts such as Sarbanes-Oxley (SOX), HIPAA, PCI and Gramm-Leach-Bliley Act (GLBA). For more information on data center solutions from Peak 10, visit www.peak10.com.
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