Peak 10 to Leverage GI’s Technology Infrastructure Expertise for Growth
MENLO PARK, CA, May 12, 2014 – GI Partners (“GI”), a leading middle market private equity firm, today announced that it has signed a definitive agreement to acquire IT infrastructure and cloud provider, Peak 10, Inc. (“Peak 10”).
Founded in 2000, Peak 10 provides hybrid IT infrastructure services including data center services, private and enterprise cloud infrastructure, and managed services. Headquartered in Charlotte, N.C., the company operates 24 data centers in 10 key markets in the U.S., primarily serving mid-sized enterprises around the globe.
“This is a pivotal time in the IT infrastructure space,” said David Jones, President and Chief Executive Officer of Peak 10. “Our industry continues to experience dynamic change with shifts and enhancements to virtual environments and the promise of the cloud. GI Partners’ deep experience in value creation within our sector forms a strategic partnership that aligns with our aggressive plans to expand geographically and deliver new capabilities to the marketplace for companies who need a partner like Peak 10.
"This investment leverages GI’s long history of investing in technology infrastructure,” said Rick Magnuson, Founder and Executive Managing Director of GI Partners. “We see a significant value creation opportunity for businesses such as Peak 10, which form the backbone of the internet."
David Mace, Director at GI Partners, added, “Peak 10’s talented and experienced management team has built an outstanding organization with considerable scale. We look forward to supporting the company as it continues to expand its leadership position.”
GI’s investment in Peak 10 will be made from GI Partners Fund IV, a private equity fund with $2 billion of capital commitments. GI has invested in seven other IT infrastructure businesses, including Digital Realty Trust (NYSE: DLR), The Telx Group, and SoftLayer Technologies.
Completion of the transaction, which is subject to regulatory approvals and customary closing conditions, is expected in the second quarter of 2014.
About Peak 10
Peak 10 provides reliable, tailored cloud computing, data center and other information technology (IT) infrastructure solutions and managed services, primarily for mid-market businesses. Peak 10 solutions are designed to scale and adapt to customers’ changing business needs, enabling them to increase agility, lower costs, improve performance and focus internal IT resources on their core competencies. Peak 10 holds the Cisco® Cloud Provider Certification with a Cisco Powered Cloud Infrastructure as a Service (IaaS) and Disaster Recovery as a Service (DRaaS) designation. Peak 10 undergoes annual examinations by third party auditors and helps companies meet the requirements of various regulatory and industry standards such as SOC 1, SOC 2, SOC 3, Safe Harbor, HIPAA, PCI DSS, FISMA and ITAR. For more information, visit www.peak10.com.