Xand, the Hawthorne-based provider of cloud and data center managed services, plans to continue its acquisitions and expansion strategy with an additional $200 million in debt financing the company recently secured from a syndicate of lenders.
The 14-year-old company in 2012 acquired Access Northeast Inc. and Data Based Systems International Inc., increasing its total service area to six data center facilities in four states””New York, Pennsylvania, Massachusetts and Connecticut.
Xand president and CEO Yatish Mishra in an announcement called the new financing “a resounding vote of confidence in Xand”™s performance from our financial partners” that “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.”
The Hawthorne company amended its existing financing arrangements with a consortium of banking partners active in date center markets. The deal was arranged by TD Securities (USA) L.L.C. 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 Dan DeAlmeida, managing director at TD Securities.
Xand”™s majority owner is ABRY Partners, a Boston-based private equity firm investing in the media, communications and business information services sectors. The firm currently manages more than $3.5 billion of total capital and invests 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 completed more than $1.5 billion of transactions and investments in data center and communications companies that include Xand.
