Datapipe Secures $176 Million Equity & Credit Facility
JERSEY CITY, N.J. – May 10, 2011 – Datapipe, a leading provider of enterprise ready, mission critical IT services, announced today that it has secured $176 million in combined equity and credit financing. In conjunction with receiving a significant equity investment from ABRY Partners, Datapipe secured a new Senior Secured Credit Facility from a syndicate of lenders led by TD Securities as agent, joined by Brown Brothers Harriman, CapitalSource, Caterpillar Financial, CIT Group, GE Capital, ING and Raymond James Financial. DH Capital, LLC served as exclusive financial advisor to Datapipe for this transaction. The facility substantially increases Datapipe's borrowing capacity and its ability to accelerate expansion plans.
“We are focused on enabling enterprises to outsource their mission critical IT with confidence. This funding allows us to continue to grow and expand our services and solutions to meet our customers’ global needs,” said Robb Allen, CEO of Datapipe. “Datapipe and our clients will benefit from the compelling combination of ABRY Partners’ deep expertise and the stability of TD Securities.”
“We are very excited to be partnering with Datapipe as they embark on their next phase of growth. Datapipe possesses all the high quality characteristics we look for in businesses we invest in and we are delighted to have them as part of the ABRY portfolio,” said Brian St. Jean, Principal at ABRY Partners.
"TD Securities is pleased to have had the opportunity to work with Datapipe and ABRY Partners in this recapitalization transaction. Management has done a tremendous job developing the business to-date and we see significant growth opportunities with the accelerated deployment of capital into the business plan. We look forward to continuing to support management and their growth initiatives going forward," said Dan DeAlmeida, Director at TD Securities.
About ABRY Partners, LLC
ABRY is one of the most experienced and successful media, communications, and business information services sector-focused private equity investment firms in North America. Since 1989, ABRY has completed over $27 billion of leveraged transactions and other private equity, mezzanine or preferred equity placements.
ABRY is currently investing ABRY Partners VII (a $1.6 billion fully-capitalized traditional private equity fund), ABRY Senior Equity III (a $750 million fully-capitalized senior equity/mezzanine fund) and ABRY Advanced Securities Fund II (a $1.2 billion fully-capitalized senior debt fund). ABRY has developed a strong presence in the data center sector through its acquisitions and investments in CyrusOne, Hosted Solutions, Q9 Networks, Sentrum Holdings and Datapipe.