365 Data Centers acquires New Jersey data centre facility
The company revealed that the 25,000 sq ft data centre offers an immediate 2.3MW of capacity 40 miles from New York City.
365 Data Centers has announced the addition of its eleventh data centre facility to its portfolio with the acquisition of NYI-NJ, a facility in Bridgewater, New Jersey.
“We’re thrilled to announce this latest acquisition of an impressive, customer-focused business and a well-maintained, highly resilient data centre,” said Bob DeSantis, Chief Executive Officer of 365 Data Centers.
“Adding a central New Jersey data centre, strategically located between our Philadelphia and New York City facilities, bolsters 365’s growing network-centric, edge data centre portfolio.”
The acquired business will be integrated into 365’s existing platform of 10 data centres, 20 additional network PoPs, and cloud on-ramps.
This New Jersey facility adds to 365’s interconnected data centres in Boca Raton, Buffalo, Chicago, Detroit, Fort Lauderdale, Indianapolis, Nashville, Philadelphia, New York City, and Tampa.
Funding for the acquisition came, in part, from a portion of a significant equity investment recently made in 365 by Turning Rock Partners, a New York-based investment firm, and 365’s existing ownership group.
“365 and its investors, Chirisa Investments, Lumerity Capital, and Longboat Advisors, are very pleased to add Turning Rock Partners as an equity partner, and to welcome Maggie Arvedlund as a member of 365’s Board of Directors,” added DeSantis.
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“Partnering with another investment team that is so well-versed in scaling and growth and has confidence in our business is a perfect match for 365’s ambitious growth objectives.
“We’re thrilled to bring Turning Rock Partners’ expertise and capital into the mix to continue to scale our business. We look forward to a long and successful partnership together.”
365’s acquisition credit lines with Antares, ING Capital, and TD Securities were also partially used to fund the purchase, according to the company.
“We are pleased to make an investment in 365 alongside existing ownership to support the Company’s continuing success in providing hybrid data centre solutions from extremely resilient network hubs,” said Maggie Arvedlund, CEO of Turning Rock Partners.
“The highly committed management team and aligned investor base make terrific partners. 365 delivers best-in-class service to customers and is exceptionally committed to success.
“Turning Rock is thrilled to be part of the Company’s expansion and next phase of growth.”
Shipman & Goodwin LLP served as legal counsel to 365. The Bank Street Group served as exclusive financial advisor to the seller.
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