American Internet Services, a provider of data center and cloud services, has received a $43.5 million senior secured credit facility from Fortress Credit Corp., an affiliate of Fortress Investment Group. American Internet Services is a portfolio company of Seaport Capital, Viridian Investments, and DuPont Capital Management.
“This financing illustrates Fortress’s continuing support for middle market companies in the data center and cloud service sector,” said Ken Sands, a Managing Director of the Credit Funds, Fortress Investment Group. “AIS is a recognized regional leader in tailored data center and cloud service solutions and we are pleased to have arranged this financing that will support their future growth.”
American Internet Services (AIS) provides data center and cloud services including co-location, network connectivity, disaster recovery, high availability, and IT security. AIS operates SSAE 16-compliant, SOC 1-, 2-, and 3-audited, redundant facilities in San Diego (headquarters), Los Angeles and Phoenix. The company was founded in 1989 (www.americanis.net).
“Refinancing AIS’ debt enables us to take advantage of historically low interest rates while providing resources for additional investment in new products and services, continuing our market expansion, and meeting the developing needs of our customers,” said Tim Caulfield, Chief Executive Officer at AIS. “We look forward to working with Fortress, a knowledgeable and experienced lender to the internet infrastructure sector.”
Investment bank DH Capital served as advisor to AIS on the financing. DH Capital is headquartered in New York with an additional office in Boulder, CO (www.dhcapital.com).
Fortress Investment Group is a global investment firm with over $53 billion in assets under management. Fortress manages assets on behalf of over 1,400 institutional clients and private investors worldwide across a range of investment strategies — private equity, credit, liquid hedge funds and traditional fixed income. The firm was founded in 1998 and is based in New York (www.fortress.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 3-22-13