Data centre operator DC BLOX has secured an extra US$187 million in long-term financing led by Post Road Group and Bain Capital Credit.
With the latest round, the company’s funding has now toped more than $285 million since 2016.
The company said proceeds of the latest wave of financing will be used to refinance DC BLOX’s existing credit facilities, add liquidity to DC BLOX’s balance sheet, and provide additional capital to fund continued investments in existing and new data centre capacity.
DC BLOX builds Tier III-designed data centres connected by a high-speed private networks throughout the Southeastern United States.
The provider claims to be one of the that is “focused on underserved growing cities”.
DH Capital served as financial advisor to DC BLOX and has served as an advisor since 2018.
Jeff Uphues, CEO of DC BLOX, said: “This financing would have not been possible without the efforts of our team and represents a significant milestone for the company. The trust and partnership we have developed with the teams at Post Road Group and now with Bain Capital Credit are instrumental to our continued growth plans. “
Adding to Uphues’ remarks, CFO Kevin O’Donnell, said: “This capital will be immediately deployed to support growth in our existing facilities and accelerate the expansion of our Tier III-designed interconnected data centre platforms in other markets throughout the Southeastern United States.”
“Post Road Group is excited to be a major investor in DC BLOX. We’ve worked extensively with their world-class management team for the past four years and enthusiastically support their strategy to bring superior data centres, connectivity, and storage infrastructure to growing Edge markets,” commented Michael Bogdan, Managing Partner of Post Road Group.
Brian Hirschfeld, a Managing Director at Bain Capital Credit, commented: “Edge computing, storage, and connectivity aggregation points are increasingly pushing outside of major metropolitan areas, and DC BLOX is well-positioned to capitalise on this expansion and deliver a state-of-the-art data centre network to smaller markets. We look forward to the partnership with DC BLOX and to supporting the Company’s growth.”
DC BLOX has Tier III-designed data centres located in Atlanta, GA, Birmingham, AL, Chattanooga, TN, Huntsville, AL, and opening soon in Greenville, SC.