DH Capital Advises DataBank on Sale to Digital Bridge
New York, NY – July 19, 2016 – (Marketwired – July 19, 2016) – DH Capital, LLC (“DH Capital”), an investment banking firm serving companies in the Internet infrastructure, software & IT services, and communications sectors, announced today that it served as exclusive financial advisor to DataBank, Ltd. (“DataBank”) on its sale to Digital Bridge Holdings, LLC (“Digital Bridge”) closed late last week. DataBank is a leading North American provider of enterprise-class data center solutions including colocation, managed services, as well as cloud and network services. Financial terms of the transaction were not announced.
DataBank is headquartered in the historic former Federal Reserve Bank Building in downtown Dallas, TX, where it operates one of the major network interconnect facilities in the region. The company has six data centers located in downtown Dallas, North Dallas, Minneapolis and Kansas City. DataBank’s footprint and top-tier facilities are dedicated to providing uninterrupted access to customer data, applications, and IT equipment. DataBank’s suite of managed services provides business solutions for corporate enterprises including hybrid cloud services, customized IT deployments, and industry compliant regulations to meet the outsourcing needs for IT management, maintenance and operations. The company serves a wide range of customer verticals including media and content distribution, cloud infrastructure providers, and telecom networks in addition to corporate enterprises.
“We entrusted DH Capital with helping to create a successful outcome and they delivered great results for the company and our shareholders. It was a pleasure working with an investment banking team that is so knowledgeable and experienced in the sector. DH Capital was a valuable resource for us,” said Tim Moore, CEO of DataBank.
“It was fantastic working with DataBank’s management team alongside their thoughtful, patient, and supportive financial sponsor Avista Capital Partners (“Avista”),” said Howard Loewenberg, Partner of DH Capital. He continued, “Since Avista’s initial investment, DataBank has successfully grown organically and through acquisition. Their ability to provide enterprise-class business solutions at the highest service level across multiple geographies has positioned DataBank for continued success in their next phase partnering with Digital Bridge.”
Digital Bridge, based in Boca Raton, Florida, was formed in 2013 through a partnership between Ben Jenkins, formerly of The Blackstone Group, and Marc Ganzi, formerly founder and CEO of Global Tower Partners. Digital Bridge is a leader in the acquisition, funding and management of companies in the communications infrastructure sector. Digital Bridge has an experienced team of senior executives with more than 90 years of combined data center industry experience to support DataBank’s management team, and help multiply this investment organically and through acquisitions.
Robert Girardi, a Partner at Avista, added, “It was tremendous partnering with DataBank over the last five years; we are incredibly proud of the company’s growth, performance, and position in the market.” He continued, “Working with DH Capital resulted in a tight, competitive process with a terrific outcome. Their extensive knowledge of the sector and team approach delivered the company a great partner to continue its success and an equally great result for Avista.”
DH Capital has long served as a trusted advisor and maintains the largest dedicated team of professionals covering the Internet infrastructure, communications, and SaaS sectors. DH Capital has advised companies on over 130 transactions with combined value in excess of $14 billion.
Kirkland & Ellis LLP acted as the legal advisor to DataBank in connection with the transaction.
About DH Capital
DH Capital is a private investment banking partnership serving companies in the Internet infrastructure, communications, and SaaS sectors. Headquartered in New York City with offices in Boulder, Colorado, the firm’s principals have extensive experience and proven abilities in capital formation, finance, research, business development, and operations. DH Capital provides a full range of advisory services to companies and financial institutions, including mergers and acquisitions, private capital placements, financial restructuring, and operational consulting. DH Capital has completed over 130 M&A transactions and private capital placements totaling more than $14 billion in value. SaaS Capital, a DH Capital affiliate, is the premier provider of growth capital to emerging SaaS companies. SaaS Capital’s innovative, recurring revenue based lines of credit, and years of experience focused exclusively on the SaaS business model, enables portfolio companies to fund substantial growth without selling a significant portion of their business. For additional information about DH Capital, please visit our website at www.dhcapital.com.