Cologix has closed its previously announced buy of Net Access LLC, which was backed by Seaport Capital. No financial terms were disclosed. Based in New Jersey, Net Access is a colocation and workspace recovery provider.
DENVER and CEDAR KNOLLS, N.J., Nov. 19, 2015 /PRNewswire/ — Cologix™, a network neutral interconnection and data center company, today announced it has completed the previously announced acquisition of Net Access, LLC, a colocation and workspace recovery provider with over 200K gross SQF across three enterprise-grade facilities in Northern New Jersey. The acquisition adds significant scale to Cologix’s network neutral data center platform, which now includes 24 data centers across 9 North American markets (6 markets in the U.S. and 3 in Canada).
“Net Access has built a great business by addressing a dynamic set of Healthcare, Financial and Enterprise customers with headquarters or primary U.S. offices in Northern New Jersey, as well as customers who need proximity to New York for their network and IT deployments but are looking to minimize risk and cost,” explains Grant van Rooyen, chief executive officer, Cologix. “Net Access enhances our platform by broadening our geographic reach, which provides new opportunities for our customers to grow with us. The feedback we have already received from customers interested in either New Jersey or other markets across the Cologix platform has been gratifying.”
Cologix’s expansion into Northern New Jersey complements its approach of focusing on unique, growing markets that offer alternatives to legacy data center hubs. These markets are seeing positive demand trends from Internet content moving closer to the end users and enterprises outsourcing IT deployments to colocation facilities for the first time. The three Net Access data centers are approximately 30 miles outside New York City, over 250ft above sea level and connected via a dark fiber network that extends to key carrier hotels for access to robust connectivity options.
Cologix now supports over 1,600 customers across its North American data center platform, including 700K SQF across 24 data centers in 9 markets. Cologix now operates network neutral data centers in Columbus, Dallas, Jacksonville, Lakeland, Minneapolis, Montreal, Northern New Jersey, Toronto and Vancouver.
Cologix increased its existing Credit Facility to $375 million to provide financing for the acquisition. TD Securities and CIT Group are joint lead arrangers and joint bookrunners for a new First Lien Term Loan with ING as syndication agent and CIT as documentation agent. Goldman Sachs Specialty Lending Group is the sole lead arranger and administrative agent for a new Second Lien Term Loan. Existing and new credit partners rounded out the remainder of the commitments. “We are pleased with the depth of our bank syndicate and their ability to support us on the successful execution of this transformative transaction,” said Brian Cox, chief financial officer, Cologix. “With the expanded credit facility we will continue to make significant strategic investments in our high growth platform.”
Net Access was a portfolio company of private equity firm Seaport Capital. Seaport Capital and Net Access have been represented in this transaction by investment bank DH Capital.
About Cologix Inc.
Cologix Inc. is a network-neutral interconnection and colocation data center company headquartered in Denver. Cologix provides scalable interconnection services and secure, reliable colocation services. Cologix operates densely connected, strategically located facilities in Columbus, Dallas, Jacksonville, Lakeland, Minneapolis, Montreal, Northern New Jersey, Toronto and Vancouver. With more than 450+ network choices and 24 prime interconnection locations, Cologix currently serves over 1,600 carrier, managed services, cloud, media, content, financial services and enterprise customers. The company’s experienced local service teams are committed to providing its customers the highest standard of local customer support. To arrange a tour of the center closest to you, contact us at [email protected] Follow Cologix on LinkedIn and Twitter.
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