GI Partners in exclusive talks to buy IT infrastructure, cloud provider Peak 10
08 May 2014
US private equity firm GI Partners is in exclusive talks to buy IT infrastructure and cloud provider Peak 10 Inc in a $800 million to $900 million deal, Reuters yesterday reported, citing people familiar with the matter.
GI has so far prevailed in an auction for Peak 10 that attracted other private equity firms the report said.
Peak 10 provides tailored cloud computing, data centre and other information technology infrastructure solutions and managed services, primarily for mid-market businesses.
The North Carolina-based company was founded in 2000 by Dave Jones and Nick Kottyan, with its first data center in Jacksonville, Florida.
Private equity group Welsh, Carson, Anderson & Stowe acquired a majority stake in Peak 10 in 2010 from buyout firms that included Seaport Capital and McCarthy Capital. Dave Jones and the top management of the company hold minority stakes.
Customer-centric, responsive and cost-effective, Peak 10 solutions are designed to scale and adapt to customers' changing business needs, enabling them to increase agility, lower costs, improve performance and focus internal resources on their core competencies
