TD Securities, GE Capital Increase Xand Debt Financing
Xand announced that it increased the company’s debt financing to over $200 million, with a significant portion of the available funding targeted specifically for acquisitions and facility expansions. TD Securities and GE Capital Markets arranged the amendment.
“Xand’s ability to efficiently acquire and integrate multi-state data center and cloud operators in the demanding Northeast marketplace has been remarkable,” said TD Securities Managing Director Dan DeAlmeida. “We are proud to partner with the Xand team as they continue to execute on their plan of record to become the major provider of cloud and data center services in the Northeast.”
“This financing is a resounding vote of confidence in Xand’s performance from our financial partners,” said Xand President and Chief Executive Officer Yatish Mishra. “The increase in available funds further bolsters our company’s strategic plan of investment, expansion and acquisition to meet the dramatic surge in demand for services from our customers in the Northeast market.”
In 2012, Xand completed a series of major acquisitions, purchasing regional providers Access Northeast and Data Based Systems International, increasing the company’s total service area to six data center facilities in four states — New York, Pennsylvania, Massachusetts, and Connecticut.
“We are very pleased to have funded the bulk of our acquisitions, capital improvement projects, and corporate growth activities on favorable terms with key bankers in the data center field,” said Xand Chief Financial Officer Robert DeSantis. “Following acquisitions and internal growth in 2012, the resulting financial performance and position of the company rendered a very attractive financing opportunity this year for a syndicate of lenders active in the data center financial markets.”
Xand, majority owned by Boston-based private equity firm ABRY Partners, is a provider of data center, cloud, and managed services.