DC BLOX

DC BLOX secures $187m financing for data centre investments

30 March 2021 | Abigail Opiah

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DC BLOX has secured $187 million in long-term financing led by Post Road Group and Bain Capital Credit.

The company revealed that proceeds will be used to refinance DC BLOX’s existing credit facilities, add liquidity to DC BLOX’s balance sheet, and provide additional capital to fund continued investments in existing and new data centre capacity.

“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,” said Jeff Uphues, CEO of DC BLOX.

Kevin O’Donnell, Chief Financial Officer added that the capital will be immediately deployed to support growth in the company’s existing facilities and accelerate the expansion of its Tier III-designed interconnected data centre platforms in other markets throughout the Southeastern United States.

DC BLOX builds Tier III-designed data centres fully connected by a high-speed, low-latency private network throughout the Southeastern United States.

 “Post Road Group is excited to be a major investor in DC BLOX,” commented Michael Bogdan, Managing Partner of Post Road Group.

“We’ve worked extensively with their world-class management team for the past four years and enthusiastically support their strategy to bring superior data centres, connectivity, and storage infrastructure to growing Edge markets.”

The company said the new funding illustrates resounding trust in its vision and leadership team implementing the company’s business plan to expand data centre facilities.

“Edge computing, storage, and connectivity aggregation points are increasingly pushing outside of major metropolitan areas, and DC BLOX is well-positioned to capitalise on this expansion and deliver a state-of-the-art data centre 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.

Including this most recent round of financing, DC BLOX has secured more than $285 million since 2016 to accelerate the company’s growth strategy of bringing modern data centres, infrastructure, and connectivity to Edge markets.

DH Capital served as financial advisor to DC BLOX and has served as a trusted advisor since 2018.