On December 3, 365 Data Centers announced that it has partnered with independent investment firm Phoenix Merchant Partners to refinance a portion of its outstanding debt, resulting in additional cash on the company’s balance sheet and increased cash flow.
The company reports the cash from the refinancing will go towards infrastructure improvements, higher-density deployments, and other revenue growth initiatives.
365 CEO Bob DeSantis said the company is pleased with Phoenix Merchant’s ability to tailor a customer-focused financing solution.
“This refinancing provides us with the capital needed to fund our growth objectives and reinforces our ongoing commitment to provide cutting-edge Infrastructure-as-a-Service (IaaS) solutions to our customers,” said DeSantis in a press release.
Colbey Arden, Partner at Phoenix Merchant Partners, reported that the company is eager to support 365.
“We have known Bob and 365 Data Centers for several years and are pleased to once again work with the company to support its continued provision of innovative IaaS solutions,” said Arden in the same press release.
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Hayden Beeson
Hayden Beeson is a writer and editor with over seven years of experience in a variety of industries. Prior to joining Lightwave and Broadband Technology Report, he was the associate editor of Architectural SSL and LEDs Magazine.