FOLLOWS 1MW EXPANSION
Interconnected data center provider DC BLOX, has just secured $187 million in long-term financing to accelerate its enterprise and cloud data center deployments.
The funding was led by Post Road Group and Bain Capital Credit, and DC BLOX plans to use the proceeds to refinance its existing credit facilities, add liquidity to the company’s balance sheet, and provide additional capital to fund continued investments in existing and new data center capacity.
“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,” said Jeff Uphues, CEO of DC BLOX.
Currently, DC BLOX has Tier III-designed data centers located in Atlanta, GA, Birmingham, AL, Chattanooga, TN, Huntsville, AL, and opening soon in Greenville, SC. The company’s data centers are interconnected through a private and carrier-grade mesh-network ecosystem, delivering both carrier-neutral core and edge connectivity solutions.
“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,” said Kevin O’Donnell, CFO of DC BLOX.
“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.
For this transaction, DH Capital served as financial advisor to DC BLOX and has served as a trusted advisor since 2018.
This announcement follows commencement of DC BLOX Birmingham, AL data center expansion which will add 1MW of power capacity to the facility in response to growing customer demand. This completes the full build out of the facility’s first data hall and the expansion is expected to be ready for service in May 2021.