Clouds

GI Partners to acquire Peak 10

Middle market private equity firm GI Partners is to acquire IT infrastructure and cloud provider Peak 10.

Founded in 2000, Peak 10 provides hybrid IT infrastructure services including data centre services, private and enterprise cloud infrastructure and managed services.
 
 Headquartered in Charlotte, North Carolina, the company operates 24 data centres in 10 key markets in the US, primarily serving mid-sized enterprises around the globe.
 
"This is a pivotal time in the IT infrastructure space," says 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," says 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."
 
GI's investment in Peak 10 will be made from GI Partners Fund IV, a private equity fund with USD2 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.

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