(WEB HOST INDUSTRY REVIEW) — Investment banking firm DH Capital (www.dhcapital.com) announced on Tuesday it has closed $48,000,000 in senior credit facilities for IT services provider Cervalis (www.cervalis.com) from a group of commercial lending institutions.
This is not the first time DH Captial has served as exclusive financial advisor to Cervalis on a transaction.
In April 2007, DH Capital served as Cervalis’ exclusive financial advisor in its closing of $20 million in senior credit facilities.
Cervalis provides IT infrastructure solutions including business continuity and rapid recovery, managed hosting, managed security, managed storage, networking, telecommunications, and colocation.
The company will use the loan to finance the construction of a new data center and business continuity facility in northern New Jersey, as well as to refinance existing debt.
Cervalis has data centers across the tri-state area including high-end facilities in New York, Connecticut and northern New Jersey.
“We are very pleased to have closed this important financing,” says Michael Boccardi, CEO of Cervalis. “DH Capital did a terrific job guiding us through the entire process and bringing together a knowledgeable group of relationship-oriented lending institutions to support our growth strategy. The additional capital will enable us to expand into a key market and meet customer demand for customized high availability, high power density data center and business continuity solutions.”
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