DH Capital Announces Closing Of $48,000,000 Financing For Cervalis, A Premier Provider Of IT Infrastructure
NEW YORK, NY & BOULDER, CO — July 7, 2009 – DH Capital, LLC (“DH Capital”), a leading investment banking firm serving companies in the Communications and Internet Infrastructure sectors, announced the closing of $48,000,000 in senior credit facilities for Cervalis LLC (“Cervalis”) from a consortium of commercial lending institutions. Cervalis is a premier provider of IT infrastructure solutions including business continuity and rapid recovery, managed hosting, managed security, managed storage, networking, telecommunications, and co-location. The financing will be used for the construction of a new, state-of-the-art data center and business continuity facility in northern New Jersey and to refinance existing indebtedness. The Company will have a unique data center footprint across the tri-state area including high-end facilities in New York, Connecticut and northern New Jersey.
“We are very pleased to have closed this important financing. DH Capital did a terrific job guiding us through the entire process and bringing together a knowledgeable group of relationship-oriented lending institutions to support our growth strategy” stated Michael Boccardi, CEO of Cervalis. He continued, “The additional capital will enable us to expand into a key market and meet customer demand for customized high availability, high power density data center and business continuity solutions.”
“While the credit markets are still challenging, quality data center operators can attract capital for growth,” stated Mark Thorsheim, Managing Director of DH Capital. “The lenders recognized the strength of Cervalis’ existing business and understood the importance of the Company’s expansion. Cervalis will be rewarded for executing its business strategy and the lenders for supporting their plan.”
DH Capital served as exclusive financial advisor to Cervalis on the transaction.