Stonepeak Infrastructure Partners, a North America focused private equity firm founded in 2011 and headquartered in New York, managing $6.4 billion of capital for its investors, has signed a definitive merger agreement through which it will acquire a majority interest in colocation data center services and interconnection solutions provider, Cologix.
The transaction will provide Cologix increased access to capital for its growth plans and Stonepeak a marquee platform to enter the data center and interconnection market in North America. An incremental $500 million of equity capital has been committed to capture accelerated growth in the near future. Cologix’s existing management team will continue to run the business in their current capacities.
Cologix operates 24 data centers across 9 strategic markets in the United States and Canada. Cologix’s carrier neutral facilities offer its customers access to the densest collection of networks and cloud operators across its markets through its Meet-Me-Rooms (MMRs). Cologix’s 1,600+ customers include network providers, cloud providers, media companies, financial companies and enterprises.
Grant van Rooyen will remain the Chief Executive Officer (CEO) of Cologix and will be the Chairman of the Board. The existing Cologix investors, including Grant van Rooyen, the van Rooyen Group, company management, Columbia Capital and Greenspring Associates will continue to hold a material interest in the company moving forward and will participate in future growth equity investments.
Joining Grant van Rooyen on the board will be Trent Vichie, Brian McMullen, Bill Fathers and Peter Bruce from Stonepeak, Patrick Hendy from Columbia, and Neil Hobbs representing the van Rooyen Group interests.
“I am delighted to welcome Stonepeak into Cologix as investors,” said Grant van Rooyen. “Over the past months we have come to greatly appreciate the investment savvy, approach to partnership and tone of Stonepeak. They are the right partner for the existing Cologix management team to be working with for the next phase of our evolution. We have felt for some time that the opportunity within our markets and our sector broadly has far more potential than we have been able to practically finance. With this transaction and the incremental investment, we will now have the financial capacity we want and need.”
Cologix has colocation data centers available in Columbus, Dallas, Jacksonville, Lakeland, Minneapolis, Montreal, New Jersey, Toronto or Vancouver.
“As the founding institutional investor in Cologix, our investment has proven to be not only rewarding from a returns perspective, but equally rewarding because we assisted in building a great Company from scratch over a 6 year period that has taken care of it’s customers and employees in a very responsible manner,” said Patrick Hendy, Partner from Columbia Capital. “We loved this opportunity and this market 6+ years ago and we continue to be big believers.”