Hosting News
Peak 10 Announces Expanded $60 Million Credit Facility Led by RBC Capital Markets
May 11, 2008 |
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CHARLOTTE, N.C. (May 9, 2008) - Peak 10, the leading independent data
center operator and managed services provider, today announced it has amended
and expanded its credit facility. RBC Capital Markets was the Lead Arranger and
Sole Book Runner for the bank syndicate. GE Capital Corporation was the
syndication agent and CIT participated in the bank syndicate as the
documentation agent. The majority of the $60 million credit facility will be
used for capital expenditures to fuel the company's organic growth and for
general corporate purposes. Royal Bank of Canada will act as Administrative
Agent for the Lenders.
"Our expanded credit facility coupled with Peak 10's strong internally generated
cash flow fully funds our business plan," said Brian Noonan, chief financial
officer of Peak 10. "Our history of consistent quarterly growth and strong
balance sheet management has enabled us to obtain debt on attractive terms with
an expanded group of lenders. We are well positioned to pursue in-market and new
market expansions, including acquisitions."
Since being founded in 2000, Peak 10 has managed a path of steady and consistent
growth organically in its local markets and through its acquisitions of
established data center companies in Louisville, Ky., Nashville, Tenn. and
Richmond, Va. Last fall, Peak 10 opened a green field data center in Atlanta,
Ga. followed by a move into Cincinnati, Oh. in December 2007. Peak 10 currently
has market expansion construction underway in Nashville, Louisville, Raleigh,
Tampa and Charlotte, and the company will initiate additional construction for
new client growth later this year and in 2009.
"This expanded credit facility sends a powerful message to our customers, namely
that we have positioned Peak 10 to expand to meet their growth needs and
technical service needs for the future," said David Jones, president and chief
executive officer of Peak 10. "At the same time, we remain aggressive with
options to expand into more markets and to execute our strategic growth
initiatives."
Peak 10's services have consistently grown because they improve reliability,
lower costs and maximize internal resources for customers while keeping their
valuable information technology assets close to the business. The company
combines its secure network, high-tech data centers and portfolio of managed
services with localized engineering and support to serve market-leading
companies nationwide with an "intentional" customer support philosophy. Peak 10
owns and operates twelve data centers in nine key markets that include
Cincinnati, Oh.; Atlanta, Ga.; Raleigh and Charlotte, N.C.; Tampa and
Jacksonville, Fla.; Nashville, Tenn.; Louisville, Ky.; and Richmond, Va.
About Peak 10, Inc.
Peak 10 is the leading independent data center operator and managed services
provider delivering scalable, economical and reliable solutions for hosting and
managing complex information technology infrastructure. The company combines its
twelve world-class data centers and portfolio of managed services with localized
engineering and support to serve market-leading companies including LendingTree,
Rivals.com, Global Knowledge, Pergo, Churchill Downs, The Fresh Market and the
Jacksonville Jaguars. Peak 10 is SAS 70 Type II compliant and helps companies
meet the requirements of various regulatory compliance acts such as
Sarbanes-Oxley (SOX), HIPAA, PCI and Gramm-Leach-Bliley (GLBA).
Media Contacts:
Amanda Brown (for Peak 10)
ClearImage
(919) 863-2393 ext. 212
amanda.brown@clearimagepr.com
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