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."
Posted by Rich Miller 
May 09, 2008 | Permalink | Newsletter
December 14, 2007
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.
Posted by Rich Miller December 14, 2007 | Permalink | Newsletter
August 10, 2007
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.
Posted by Rich Miller August 10, 2007 | Permalink | Newsletter
July 24, 2007
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."
Posted by Rich Miller July 24, 2007 | Permalink | Newsletter
April 25, 2007
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.
Posted by Rich Miller April 25, 2007 | Permalink | Newsletter
February 13, 2007
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."
Posted by Rich Miller February 13, 2007 | Permalink | Newsletter
January 26, 2007
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.
Posted by Rich Miller January 26, 2007 | Permalink | Newsletter
August 30, 2006
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."
Posted by Rich Miller August 30, 2006 | Permalink | Newsletter
August 07, 2006
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."
Posted by Rich Miller August 07, 2006 | Permalink | Newsletter
July 28, 2006
Peak 10 Opens Second Charlotte Data Center
Data center operator Peak 10 today announced the opening of its second data center at its headquarter location in Charlotte, N.C. The company said its Charlotte facility is now the largest privately-held data center and managed services operation in North Carolina.
"Our expansion in Charlotte demonstrates our proven track record of investing in the markets we serve," said David H. Jones, president and chief executive officer of Peak 10. "This new center and other expansion projects are being deployed based on the same philosophy that underlies the success of Peak 10 as a company: incremental, success based growth in phases to limit capital exposure but to provide high availability as well as reliable and cost effective solutions for our customers."
Posted by Rich Miller July 28, 2006 | Permalink | Newsletter
April 28, 2006
Peak 10 Expands Tampa Data Center
Peak 10, a regional data center operator focusing on the Southeast, is expanding its Tampa data center more than 30 percent, citing "rapid customer growth."
"This data center expansion is not only a sign of Peak 10’s success and unprecedented growth, but also demonstrates our continued commitment and investment to the Tampa market," said David Jones, president and chief executive officer of Peak 10. "The expansion of our facilities in Tampa and our other strategic markets is driven by a clear understanding of technology trends, market conditions and the over-all IT outsourcing landscape."
Posted by Rich Miller April 28, 2006 | Permalink | Newsletter
December 09, 2005
Peak 10 Adds Second Charlotte Data Center
Growing managed hosting provider Peak 10 said today that it will build a second data center at its Charlotte headquarters, which will give the company seven facilities. Peak 10 expanded in Raleigh, N.C. and Louisville, Ky. earlier this year. The new Charlotte data center, which is expected to be completed in late second quarter of 2006, will expand Peak 10's North Carolina footprint by 14,000 square feet.
"With three data center expansion projects since the beginning of 2005, we are responding to customer growth and the increased demand for outsourced IT services in a significant way," said David Jones, president and chief executive officer of Peak 10. "The addition of the new data center in Charlotte strengthens our presence in a significant market for our company."
Posted by Rich Miller December 09, 2005 | Permalink | Newsletter
September 25, 2005
Xodiax Takes Name of New Parent Peak 10
Louisville data center and managed services provider Xodiax will adopt the name of its new parent company, Peak 10 effective September 22. Peak 10 also previewed its new Louisville data center at the event. The new 25,000 square foot facility will be operational in mid-October.
"The change to Peak 10 completes our process of corporate transition that began with the merger of Peak 10 and Xodiax last year," said Don Esterle, vice president and general manager of Peak 10 Louisville. "Even though there has been a change in name, the people and the commitment we have to our customers and the Louisville market will remain the same. Furthermore, the commitment Peak 10 has made to the Louisville market will go unchanged.
"We will also take full advantage of Peak 10's visibility and brand recognition through out the region as we continue to grow our business, especially in the areas of data replication, risk mitigation and disaster recovery involving multiple Peak 10 data centers."
Earlier in the year, Peak 10 announced a large-scale data center expansion project in Louisville just six months after the company acquired Xodiax in November of 2004. The expansion was fueled by Xodiax's success and the growing demand for high-end managed services and infrastructure hosting in the Louisville market. Peak 10 has increased the size of its Louisville data center by 25,000 square feet, bringing it inline with its other facilities in Raleigh and Charlotte, N.C. and Tampa and Jacksonville, Fla.
The expanded Louisville facility maintains Peak 10's high standards for security, reliability and redundancy and will also connect to the company's private network enabling it to offer additional storage, disaster recovery and business continuity services to customers nationwide.
"The Xodiax team integrated flawlessly with Peak 10 from the very beginning and we all have embraced the goal to build a stronger identity among customers, employees, investors and the communities we serve as well as position Peak 10 broadly as a dynamic, diverse data center operator and managed services organization," said David Jones, president and chief executive officer of Peak 10. "Having separate names did not communicate the scope of Peak 10, and we want to be identified by one single name to clearly and concisely represent the standard of quality we provide customers nationwide."
Posted by Rich Miller September 25, 2005 | Permalink | Newsletter
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