Stonecourt Capital LP has acquired hybrid data center services firm 365 Data Centers for an undisclosed sum. Original investors Lumerity Capital and Longboat Advisors have reinvested in the company as well, so will remain involved. The existing management team, including CEO Bob DeSantis, will remain in place.
Founded in 2017, 365 Data Centers has evolved from a colocation services company with eight data centers into a hybrid data center services provider operating 12 data centers with 230,000 square feet of space and 22 MW of available power. The data centers are located in Boca Raton, Bridgewater (New Jersey), Buffalo, Chicago, Commack (Long Island), Detroit, Fort Lauderdale, Indianapolis, Nashville, Philadelphia, New York City, and Tampa.
“We are pleased to welcome Stonecourt as a partner in 365 Data Centers,” said DeSantis, who is also a board member and investor in the company. “Stonecourt has a proven reputation of supporting growth businesses with financial and strategic resources, and we are excited to partner with them to foster the next phase of the company’s expansion. The 365 team will remain fully intact, and this partnership will enhance our ability to execute on our organic and acquisition growth strategies. On behalf of the entire 365 team, I want to thank our outgoing investors, Chirisa Investments and Turning Rock Partners, and our outgoing board members Colm Piercy and Maggie Arvedlund, who have supported the company and me since the beginning.”
The company also offers access to 21 other points of presence and more than 400 peering partners. 365 Data Centers says it serves more than 650 customers in the eastern U.S.
“We are very impressed by the portfolio of data center and fiber assets that Bob and the 365 team have successfully integrated,” added Lance Hirt, managing partner at Stonecourt. “The company’s blue-chip enterprise and carrier customer base creates a unique platform. We are excited to partner with Bob, Lumerity Capital, Longboat Advisors, and the 365 team to deploy significant additional capital to accelerate the company’s growth trajectory. We are already engaged on several near-term acquisition opportunities which will meaningfully enhance the company’s service offerings.” -- Stephen Hardy, Lightwave
