Xand, which is backed by ABRY Partners, said it increased its debt financing to over $200 million. Xand said it amended its existing financing arrangements with a consortium of banks, arranged by TD Securities and GE Capital Markets. Hawthorne, N.Y.-based Xand provides data center, cloud and managed services
Hawthorne, NY (PRWEB) September 12, 2013
Xand, the Northeast’s premier provider of colocation, cloud, managed services, and disaster recovery announced today that it recently seized favorable market conditions to increase the company’s debt financing to over $200 million, with a significant portion of the available funding targeted specifically for acquisitions and facility expansions.
“This financing is a resounding vote of confidence in Xand’s performance from our financial partners,” said Xand President and Chief Executive Officer Yatish Mishra. “The increase in available funds further bolsters our company’s strategic plan of investment, expansion, and acquisition to meet the dramatic surge in demand for services from our customers in the Northeast market.”
In 2012, Xand completed a series of major acquisitions, purchasing regional providers Access Northeast, Inc. and Data Based Systems International, Inc., increasing the company’s total service area to six data center facilities in four states—New York, Pennsylvania, Massachusetts, and Connecticut.
“We are very pleased to have funded the bulk of our acquisitions, capital improvement projects, and corporate growth activities on favorable terms with key bankers in the data center field,” said Xand Chief Financial Officer Robert DeSantis. “Following acquisitions and internal growth in 2012, the resulting financial performance and position of the company rendered a very attractive financing opportunity this year for a syndicate of lenders active in the data center financial markets.”
Xand, which is majority owned by Boston-based private equity firm ABRY Partners, amended its existing financing arrangements with a consortium of industry-leading banking partners, arranged by TD Securities (USA) LLC and GE Capital Markets, Inc.
“Xand’s ability to efficiently acquire and integrate multi-state data center and cloud operators in the demanding Northeast marketplace has been remarkable,” said TD Securities (USA) LLC Managing Director Dan DeAlmeida. “We are proud to partner with the Xand team as they continue to execute on their plan of record to become the major provider of cloud and data center services in the Northeast.”
Xand is a highly resilient provider of data center, cloud, and managed services. Since 1999, Xand has designed, built and managed IT infrastructure services which allow enterprises to maximize their critical application performance and availability. With data centers in New York, Pennsylvania, Connecticut and Massachusetts, Xand offers colocation, cloud, enterprise hosting, managed services, business continuity, disaster recovery and wide area networking throughout the region via its best-in-class facilities, engineering expertise, and commitment to customer service excellence. For more information, please visit http://www.xand.com.
About ABRY Partners
Founded in 1989, ABRY is one of the most experienced and successful media, communications, and business information services sector-focused private equity investment firms in North America. ABRY has completed over $27 billion of transactions, representing investments in more than 450 properties. The firm is currently managing over $3.5 billion of total capital and investing out of a $1.6 billion private equity fund, $750 million senior equity/mezzanine fund and a $1.2 billion senior debt fund. ABRY has extensive data center investing experience, having completed over $1.5 billion of transactions and investments in data center and communications companies such as Xand, CyrusOne, Hosted Solutions, Datapipe, Telx, Masergy, Q9 Networks and Sentrum Holdings.