Peak 10 Expands in Louisville

Peak 10 is expanding its Louisville operations by adding a third data center to support strong demand for the company’s services in the region. The new facility will include more than 10,000 square feet of data center space, giving Peak 10 Louisville a total footprint of 24,000 square feet of data center space.

The new facility will provide expansion space for Peak 10’s customers, and will be contiguous to the two original facilities, convenient for customers with a presence in both sites. The expansion will be completed later this year and will boost Peak 10’s footprint to 13 data centers within its nine key markets.

The announcement of the new data center comes just a week after Peak 10 said that it has arranged $60 million in funding to support its continued expansion. The company said it would use the funding to “pursue in-market and new market expansions, including acquisitions.”

Peak 10 Gets $60 Million in Funding

In the latest sign of growth for regional data center companies, Peak 10 has arranged $60 million in funding to support its continued expansion. RBC Capital Markets arranged the credit facility through a bank syndicate including GE Capital Corporation and CIT. Peak 10 says it will use the funding to build new data centers or possibly acquire other providers.

“Our expanded credit facility coupled with Peak 10’s strong internally generated cash flow fully funds our business plan,” said Brian Noonan, chief financial officer of Peak 10. “Our history of consistent quarterly growth and strong balance sheet management has enabled us to obtain debt on attractive terms with an expanded group of lenders. We are well positioned to pursue in-market and new market expansions, including acquisitions.”

Peak 10 was founded in 2001 and has focused on local markets in the southeastern U.S. IN addition to its own building program, Peak 10 acquired established data center companies in Louisville, Nashville and Richmond. Last fall the company opened a greenfield data center in Atlanta, and expanded into Cincinnati in December 2007. Peak 10 currently has construction underway on facilities in Nashville, Louisville, Raleigh, Tampa and Charlotte, and plans additional construction later this year and in 2009.

“This expanded credit facility sends a powerful message to our customers, namely that we have positioned Peak 10 to expand to meet their growth needs and technical service needs for the future,” said David Jones, president and chief executive officer of Peak 10. “At the same time, we remain aggressive with options to expand into more markets and to execute our strategic growth initiatives.”

Peak 10 Expands Into Cincinnati

Managed hosting provider Peak 10 Inc. will open a new 22,000 square foot data center facility in West Chester, Ohio, a suburb of Cincinnati, the company said Thursday. The new market reflects a continued broadening of the geographic focus of Peak 10, which has focused on second-tier markets in the Southeastern US.

“Peak 10’s expansion into Cincinnati aligns with our business strategy of scaling our business through select new market development and consistent organic growth,” said David Jones, president and chief executive officer of Peak 10. “Peak 10 will deliver world-class managed services and skilled, around-the-clock data center support services to high-growth, small-to-midsize businesses (SMBs) in the Greater Cincinnati and Dayton region.”

The company has added three new markets in 2007 - Atlanta, Richmond and now Cincinnati. Peak 10 has also added additional capacity and infrastructure in Raleigh and Charlotte in its home base of North Carolina; Jacksonville, Fla.; and Nashville, Tenn.

Peak 10 Enters Atlanta Market

When Peak 10 announced last month that it was building a second data center in Nasvhille, it indicated that it is in active expansion mode. We didn’t have to wait long for evidence of how fast the company is growing.

Yesterday Peak 10 said it has acquired a 33,000 square foot facility in Norcross, Ga. a suburb of suburb of Atlanta. The deal gives Peak 10 data centers in eight markets in the Southeast. The Norcross facility includes an existing data center that takes up about a third of the space, with the remainder available for expansion.

“It’s not just for current opportunity,” Peak 10 CEO David Jones told the Charlotte Observer. “It also provides us the opportunity to grow.” Jones said the company brought in $17.6 million in revenue last year, up from $10.1 million in 2005, and projects Peak will double revenue this year and again next year.

Peak 10 to Build Nashville Data Center

Peak 10, Inc. will build a second data center in Nashville, Tenn., which will add 40,000 square feet of space to support its growing customer base in the city, the company said today. The project continues the steady expansion of facilities for Peak 10, a regional data center services provider focused on markets in the Southeastern U.S.

“As part of our successful business model, we are continually investing in our infrastructure capabilities to serve our growing customers needs,” said Ken Nelson, vice president and general manager of Peak 10 Nashville, who sasid the company has pursued a “relentless focus on enhancing infrastructure and customer support.”

Peak 10 Expands Raleigh Facility

Peak 10, Inc. today announced a major addition of 42,000 square feet of space at its Raleigh, N.C. data center. The expansion will bring the total size of Peak 10 Raleigh to approximately 70,000 square feet, making it the largest of the company’s 10 facilities. Peak 10 said it plans to add more than 150,000 additional square feet of growth capacity in 2007.

“This expansion is part of our plan to continue investing in our customers’ growth by providing the right data center capacity and services,” said David H. Jones, president and chief executive officer of Peak 10. “It’s the culmination of an intensive nine month planning process for a long-term investment in a solid growth market.”

The Raleigh expansion follows Peak 10’s February 2007 acquisition of bayMountain, a Richmond, Va.-based data center company. Peak 10 now operates in seven markets in the Southeastern U.S.

Peak 10 Acquires Richmond’s bayMountain

Regional data center service provider Peak 10, Inc. has acquired bayMountain, a Richmond, Va.-based data center company that specializes in managed hosting and colocation services. Peak 10 said the deal expands Peak 10’s presence in its core market in the Southeastern U.S., and enhances the company’s technical capabilities and service offerings.

Peak 10 now operates 10 data centers in seven markets. It acquired Nashville’s Rentech and its facility last august, and in January it announced a new Jacksonville data center.

“The current market for outsourced IT services is strong and is driving demand for high-end data center space and managed services,” said Jeff Spalding, Peak 10 executive vice president, market operations. “This acquisition of bayMountain and RenTech in Nashville just six months prior, combined with our aggressive approach to enhancing and expanding our other data centers … (will) solidify our position as a market leader.”

Peak 10 Adds Jacksonville Facility

Data center operator Peak 10 will more than double its Jacksonville operation by adding a second data center to support the company’s rapid growth in Florida. The expansion will give Peak 10 nine data centers spread throughout the eastern United States. The company expects the new facility to be completed before the third quarter of this year.

“With our recent acquisition in Nashville and facility expansions or second data centers in four of our existing markets since 2005, Peak 10 is aggressively responding to customer growth and the increased demand for outsourced IT services in all of our markets,” said David Jones, president and chief executive officer of Peak 10. “Consistent with our growth strategy, we will continue to aggressively pursue expansion opportunities organically and through acquisitions nationwide.”

Peak 10 says it needs additional data center space in Jacksonville to meet current and future demand for infrastructure hosting and managed services. The new data center will be built on the same property as Peak 10’s existing facility.

Peak 10 Named to Inc. 500 (Again)

Data center service provider Peak 10 has been named to Inc. magazine’s annual Inc. 500 ranking of the fastest-growing private companies in the country. Peak 10 makes the list for the second consecutive year at number 240 with a three year growth rate of 529 percent.

Following its recent acquisition of Nashville-based RenTech, Peak 10 owns and operates eight data centers in six strategic markets. One of its past acquisitions, Louisville-based Xodiax, made the Inc. 500 in 2004.

“We are again honored to be recognized by Inc. Magazine as one of the 500 fastest growing private companies in the nation,” said David H. Jones, president and chief executive officer for Peak 10. “The growth required to make a prestigious list like the Inc. 500 for the second year in a row is a clear indicator of Peak 10’s market leadership and that our long-standing strategy of placing a high priority on localized customer support and service is on target. The key to our success lies in the drive, entrepreneurial spirit and dedication of our employees. It is their commitment to our business approach and vision that continuously delivers value to our customers and will fuel our growth moving forward.”

Peak 10 Buys Nashville Data Center

Managed hosting provider Peak 10, Inc., has acquired RenTech, a Nashville-based data center operator and outsourcing firm for information technology services. The acquisition continues Peak 10’s expansion in its core Southeast regional market, where it now owns and operates eight data centers in six market. The terms of the acquisition were not disclosed.

“This is a strategically significant move for Peak 10, as we continue to scale our business through financially sound acquisitions, aggressive facility expansions and consistent organic growth,” said David Jones, president and chief executive officer of Peak 10. “With this acquisition, we merge the knowledge and expertise of two entrepreneurial organizations and move forward with a strong commitment to the Nashville market, focusing on growth and exceeding customer expectations. The acquisition also adds further depth to our growing disaster recovery, business continuity and IT compliance solutions and strengthens our services capability.”