365 Data Centers

Stonecourt Capital to acquire 365 Data Centers for undisclosed sum

06 October 2020 | Abigail Opiah

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365 Data Centers has announced that Stonecourt Capital LP has acquired the company and original investors Lumerity Capital and Longboat Advisors have reinvested into the new partnership.

365 has developed into one of the largest privately-owned data centre solutions providers offering a set of services to over 650 customers in the eastern United States.

The company currently operates 230,000 sqf of data centre space and 22MW of available power, along with a fully redundant 100G network interconnecting its 12 data centres, 21 other points of presence, and over 400 peering partners.

Bob DeSantis will continue to lead 365 as CEO, a Board member, and an investor.

"We are pleased to welcome Stonecourt as a partner in 365 Data Centers," said DeSantis.

"Stonecourt has a proven reputation of supporting growth businesses with financial and strategic resources, and we are excited to partner with them to foster the next phase of the Company's expansion.

“The 365 team will remain fully intact, and this partnership will enhance our ability to execute on our organic and acquisition growth strategies.

“On behalf of the entire 365 team, I want to thank our outgoing investors, Chirisa Investments and Turning Rock Partners, and our outgoing Board members Colm Piercy and Maggie Arvedlund, who have supported the Company and me since the beginning."

DeSantis has led the transformation of the company from a colocation business operating eight data centres with an aggregate of 125,000 sqf and 9MW of available power, into a network-centric hybrid data solutions provider.

Lance Hirt, Managing Partner at Stonecourt, commented, "We are very impressed by the portfolio of data centre and fibre assets that Bob and the 365 team have successfully integrated.

“The company's blue-chip enterprise and carrier customer base creates a unique platform. We are excited to partner with Bob, Lumerity Capital, Longboat Advisors, and the 365 team to deploy significant additional capital to accelerate the company's growth trajectory.

“We are already engaged on several near-term acquisition opportunities which will meaningfully enhance the Company's service offerings."

Since its inception in 2017, the company has acquired, financed, and fully integrated four complementary businesses.

Bank Street Group LLC served as exclusive financial advisor to both 365 Data Centers and Stonecourt Capital in connection with the transaction. Shipman & Goodwin LLP acted as legal counsel to 365, and Polsinelli PC acted as legal counsel to Stonecourt.