Data center operator DC BLOX scores $187 million in new financing
DC BLOX, which owns and operates a series of interconnected Tier III data centers in the U.S. Southeast, has announced receipt of $187 million in long-term financing led by Post Road Group and Bain Capital Credit. The company says it will use the money to refinance its existing credit facilities, add liquidity to the balance sheet, and fund investments in existing and new data center capacity.
The company operates data centers in Atlanta, GA, Birmingham, AL, Chattanooga, TN, and Huntsville, AL, with a facility in Greenville, SC, scheduled to be open soon. DC BLOX connects these with a high-speed, low-latency private network to serve mid-market and edge multi-tenant data center services customers in what the company calls “underserved growing cities.” The carrier-grade mesh-network offers links to cloud on-ramps, internet access, and other options for core and edge connectivity.
“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,” commented Jeff Uphues, CEO of DC BLOX.
“This capital will be immediately deployed to support growth in our existing facilities and accelerate the expansion of our Tier III-designed interconnected data center platforms in other markets throughout the Southeastern United States,” added Kevin O’Donnell, CFO at the company.
“Post Road Group is excited to be a major investor in DC BLOX. We’ve worked extensively with their world-class management team for the past four years and enthusiastically support their strategy to bring superior data centers, connectivity, and storage infrastructure to growing edge markets,” said Michael Bogdan, managing partner of Post Road Group.
“Edge computing, storage, and connectivity aggregation points are increasingly pushing outside of major metropolitan areas, and DC BLOX is well-positioned to capitalize on this expansion and deliver a state-of-the-art data center 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.
The recent funding brings total investment in DC BLOX to more than $285 million since 2016, according to the company.
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Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
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