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Cequel Data Centers Acquires Adhost Internet Advertising
Posted on December 3, 2012 by Craig in Cequel Data Centers, Data Centers, TierPoint
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ST. LOUIS (Dec. 3, 2012) – Cequel Data Centers, LLC – a portfolio company of Thompson Street Capital Partners, Charterhouse Group, and Cequel III – today announced the acquisition of Seattle-based Adhost Internet Advertising, LLC, a leading regional provider of colocation, managed I.T. and cloud computing services in the Pacific Northwest.
Adhost will immediately be rebranded as TierPoint. Cequel Data Centers acquired Spokane-based TierPoint earlier this year with the intention of becoming a major provider of colocation and cloud services to companies throughout the Pacific Northwest. Adhost currently operates nearly 10,000 square feet of raised-floor, data-center space in downtown Seattle with plans to triple its space in order to meet the strong demand and satisfy existing customers looking to expand in that market.
With its prior acquisitions – including facilities in Dallas, Spokane, Oklahoma City and Tulsa – Cequel Data Centers now owns and operates about 110,000 square feet of raised-floor, data-center space.
“This latest acquisition further enhances our geographic diversity and fits perfectly with our strategy to position ourselves to respond to the growing demand for colocation and cloud computing services,” said Paul Estes, Chairman and Chief Executive Officer of Cequel Data Centers. “The experienced Adhost team now becomes a part of our bigger team. With their proven track record and reputation, we plan to continue to grow this business and expand our facility in Seattle.”
RBC Capital Markets acted as financial advisor to the sellers and was the sole lead arranger and sole bookrunner for the debt financing associated with this acquisition. Goldman Sachs, CapitalSource Bank, US Bank, ING Capital, and CoBank also participated in the credit facility. Financial terms were not disclosed.
Cequel Data Centers was established in 2010 by Cequel III, a St. Louis-based management and investment firm, and Thompson Street Capital Partners, a St. Louis-based private equity firm, together with New York-based private equity firm Charterhouse Group, Inc.
