GI Partners to Acquire Peak 10
Peak 10 to Leverage GI's Technology Infrastructure Expertise for Growth
MENLO PARK, Calif., May 12, 2014
MENLO PARK, Calif., May 12, 2014 /PRNewswire/ -- 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, NC, 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, 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.
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
About GI Partners
Founded in 2001, GI Partners is a leading middle market private equity
investment firm based in Menlo Park, California. The firm currently manages
over $10 billion through private equity and real estate separate account
strategies for recognized institutional investors, including some of the
largest state and sovereign pension funds in North America, Europe, Australia,
Asia, and the Middle East. GI Partners is active in a number of key sectors,
including IT Infrastructure & Services, Healthcare Services, Retail & Leisure,
and Financial & Real Estate Services. For more information on GI Partners and
its entire portfolio, please visit www.gipartners.com.
GI Partners Investor Relations
Chris Tofalli Public Relations
Fleishman Hillard (for Peak 10)
SOURCE GI Partners
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