GI Partners and Peak 10, Inc., a provider of IT infrastructure and a portfolio company of Welsh, Carson, Anderson & Stowe since 2010, have completed the previously announced acquisition of Peak 10 by GI Partners.
Peak 10 provides IT infrastructure services including data center services, private and enterprise cloud infrastructure, and managed services. The company operates 24 data centers in 10 markets in the US, primarily serving mid-sized enterprises around the globe. Peak 10 is headquartered in Charlotte, NC (www.peak10.com).
GI Partners invests from $50 million to $250 million in companies with enterprise values of $100 million to $750 million. Sectors of interest include IT infrastructure & services; healthcare services; leisure & retail; and financial & real estate services. Since founding, GI has managed $10 billion across four private equity funds and invested in 38 platform investments. GI Partners is based in Menlo Park (www.gipartners.com).
“Peak 10’s talented and experienced management team has built an outstanding organization with considerable scale,” said David Mace, Director at GI Partners. “We look forward to supporting the company as it continues to expand its leadership position.”
Welsh, Carson, Anderson & Stowe is focused exclusively on investments in business, information and healthcare services. Since its founding in 1979, Welsh Carson has organized 15 limited partnerships with total capital of over $20 billion. The firm is currently investing through its latest fund, Welsh, Carson, Anderson & Stowe XI, LP, and is based in New York (www.welshcarson.com).
“We are very proud of the partnership we have enjoyed with Peak 10’s management team since 2010. During that time, we worked closely together to continue building on Peak 10’s leadership position in the market,” said Eric Lee, General Partner at Welsh, Carson, Anderson & Stowe. “The company delivered terrific performance and we believe is well-positioned for its next phase of growth.”
Credit Suisse and RBC Capital Markets acted as financial advisors, and Kirkland & Ellis served as legal counsel for Peak 10. Paul Hastings served as legal counsel for GI Partners. Financing for the transaction is being provided by affiliates of Credit Suisse, RBC Capital Markets, and Jefferies.
2014 PEPD • Private Equity’s Leading News Magazine • 6-19-14
