With a data center boom underway, discerning investors are awakening to the digital economy. With roughly 4.66 billion people around the world using the internet – close to 60 percent of the world’s total population – and a concerted effort to bridge the digital divide, digital communications will continue to spread. This doesn’t even account for all of the devices, the distribution of data such as video and streaming content, or the proliferation of cloud storage, where everyone’s social media content, photos, personal videos and more are stored. Compound that with increasing business use of digital everything and the need to keep data for many years due to regulatory requirements – the digital economy is on the rise.
According to research from the dataportal.com, internet users grow at an annualized rate of more than 7 percent – or the equivalent of about 875,000 new users each day. This growth rate compounds when you consider social media use, online education, the digital transformation of businesses everywhere – and at home too. All of this data is stored in data centers – and that demand is equally on the rise.
DC BLOX, a leading provider of interconnected multi-tenant data centers throughout the Southeast United States continues to identify new markets where data centers are needed to support local and regional businesses. “Edge computing, storage, and connectivity aggregation points are increasingly pushing outside of major metropolitan areas,” states Brian Brian Hirschfeld, a Managing Director at Bain Capital Credit. To make this a possibility a reality requires money.
Post Road Group and Bain Capital Credit have recognized the growing demand for data storage and together have invested $187 million in long-term financing in DC BLOX, a burgeoning data center provider enabling mid-market and edge multi-tenant data center solutions. As a result of this investment, DC BLOX will refinance existing credit facilities, leveraging the additional capital to fund continued investments in existing and new data center capacity, and add liquidity to DC BLOX’s balance sheet.
According to DC BLOX, the new funding illustrates the trust in its strategic vision and leadership team, which implements the company’s business plan building and expanding high-quality, multi-tenant data center facilities. The company’s CEO, Jeff Uphues appreciates this as well, “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 is instrumental to our continued growth plans.”