Cloud Computing: ViaWest Closes $65 Million of Debt Financing
April 3, 2012
ViaWest, one of the largest privately-held data center, cloud computing and managed services providers in North America, announces today it closed an additional $65MM of debt financing to fund future growth initiatives. This additional investment reflects the strong support of the company’s growth prospects, operational infrastructure and delivery of the highest-level of data center services.
Since its acquisition by Oak Hill Capital Partners in 2010, ViaWest has continued its rapid growth. In 2011, the company opened new premium data centers in the Portland, Oregon and Dallas, Texas markets, bringing its total number of datacenters to 22. ViaWest also recently announced several strategic product launches including its KINECTed Storage, Managed Security, KINECTed Back Up and KINECTed Cloud solutions. ViaWest anticipates that it will utilize the additional capital to continue its market expansion and to further drive its product portfolio, particularly in cloud computing and managed services…
"As a result of ViaWest’s outstanding growth and industry reputation, we received numerous commitments from new and existing lenders," states Michael Krza, Chief Financial Officer of ViaWest. "With this additional funding, we will continue to execute on our strategic growth plans, invest in new and expanded data center facilities and further develop the latest technologies and managed services our clients require."
Led by RBC Capital Markets (Sole Lead Arranger and Bookrunner), the $55 million upsize of the senior credit facility was oversubscribed and funded by several premier financial institutions. Barclays Private Credit Partners Fund L.P. and Solar Capital Ltd provided the remaining $10 million in the form of additional second lien mezzanine commitments.
For more information on ViaWest, please visit www.viawest.com .