CyrusOne Bought By Private Equity Firm
July 11th, 2007 By: Rich Miller
In a deal that reinforces private equity firms’ interest in the data center sector, ABRY Partners announced today that it has acquired CyrusOne, an IT infrastructure provider based in Houston. ABRY, a Boston-based private equity firm focused on the media and communications sector, said the deal will help CyrusOne accelerate its expansion.
“We are strong believers and excited to be participating in the colocation and data center services industry through our investment in CyrusOne, and we are delighted to have the opportunity to partner with CyrusOne’s talented management team,” said C.J. Brucato III, principal of ABRY Partners, in a press statement. “CyrusOne has a leading market position and a strong and diversified blue chip customer base with a global footprint that we feel can greatly benefit from this new partnership.”
CyrusOne, which has a strong focus in the energy and financial services sector, is currently expanding its flagship Houston data center by 60,000 square feet. The expansion on contiguous property will nearly double the size of the existing facility, and is engineered to accommodate dense computing systems at over 250 watts per square foot.
“The completion of this acquisition represents a significant step for CyrusOne to accelerate our growth and give the company significant strategic options to aggressively grow the business,” said David Ferdman, CEO of CyrusOne. “We are excited about the value that ABRY brings to our team and anticipate the tremendous opportunity this transaction creates for both existing and new customers.”
Signal Hill Capital Group LLC initiated and advised CyrusOne in the transaction.
ABRY Partners has completed over $18 billion of leveraged transactions and other private equity and mezzanine investments since 1989, representing investments in more than 450 media and communications properties.