NORWALK, Conn., Oct. 6, 2020 /PRNewswire/ -- 365 Data Centers ("365" or the "Company"), a leading provider of hybrid data center solutions, today announced that Stonecourt Capital LP ("Stonecourt") has acquired the Company and original investors Lumerity Capital and Longboat Advisors have reinvested into the new partnership. Under the leadership of the Company's Chief Executive Officer, Bob DeSantis, 365 has developed into one of the largest privately owned data center solutions providers offering a comprehensive set of services to over 650 customers in the eastern United States. 365 currently operates 230,000 square feet of data center space and 22 MW of available power, along with a fully redundant 100G network interconnecting its 12 data centers, 21 other points of presence, and over 400 peering partners.
Mr. DeSantis will continue to lead the Company as CEO, a Board member, and investor. He has led the transformation of the Company from a strictly colocation business operating 8 data centers with an aggregate of 125,000 square feet and 9MW of available power, into a network-centric, full-service, hybrid data solutions provider. Since inception in 2017, the Company has acquired, financed, and fully integrated four complementary businesses.
"We are pleased to welcome Stonecourt as a partner in 365 Data Centers," said DeSantis. "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."
Lance Hirt, Managing Partner at Stonecourt, commented, "We are very impressed by the portfolio of data center and fiber assets that Bob and the 365 team have successfully integrated. 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."
Matt Kim, Managing Partner of Lumerity Capital and a continuing Board member of 365, stated, "This transaction represents an important milestone for the Company as it recognizes the unrivaled achievements of the team to significantly scale and transform the business into a leading provider of hybrid data infrastructure services. We look forward to partnering with Stonecourt to support Bob and the 365 team in executing on the Company's growth strategy and in enhancing the Company's value to its customers."
Bank Street Group LLC served as exclusive financial advisor to both 365 Data Centers and Stonecourt Capital in connection with the transaction. Shipman & Goodwin LLP acted as legal counsel to 365, and Polsinelli PC acted as legal counsel to Stonecourt.
About 365 Data Centers
365 Data Centers is a leading provider of hybrid data center solutions in 12 strategic, primarily edge, markets. With Data Centers in Boca Raton, Bridgewater (New Jersey), Buffalo, Chicago, Commack (Long Island), Detroit, Fort Lauderdale, Indianapolis, Nashville, Philadelphia, New York City, and Tampa, the Company operates facilities aggregating 230,000 square feet and 22 MW of power, along with an interconnected, resilient, low latency, nationwide fiber network.
365's robust, carrier neutral ecosystem and secure, reliable edge colocation, network, IP, DRaaS, BaaS, cloud compute and storage, and business continuity services help organizations reduce costs, drive innovation, and improve their customer experience. 365 Data Centers supports mission-critical application infrastructure by providing industry leading Service Level Agreement protections and adhering to industry standards such as HIPAA, PCI DSS, SOC 1 Type 2, SOC 2 Type 2, SSAE 18, and ISAE 3402. 365 Data Centers' corporate office is located in Norwalk, Connecticut.
Visit 365datacenters.com for more information.
About Stonecourt Capital
Stonecourt Capital is a private investment firm focused on providing financial and strategic resources to facilitate the transformational growth of companies across a broad array of industries. Stonecourt is backed by some of the largest family offices, sovereign wealth funds, and other institutional investors. Over the last 20 years, its team has invested over $4 billion of equity capital, partnering with exceptional managers in the growth of their companies. Stonecourt's flexible mandate allows it to customize the term and structure of each investment to create a bespoke solution for sellers, management teams, and strategic partners.
SOURCE 365 Data Centers