ViaWest Closes $65 Million Debt Financing With RBC, Others
ViaWest, a privately held data center, cloud computing and managed services provider in North America, announced it closed an additional $65 million of debt financing to fund future growth initiatives. This additional investment reflects the strong support of the company’s growth prospects, operational infrastructure and delivery of the highest-level of data center services.
Led by RBC Capital Markets, as sole lead arranger and bookrunner, the $55 million increase of the senior credit facility was oversubscribed and funded by several financial institutions. Barclays Private Credit Partners Fund and Solar Capital provided the remaining $10 million in the form of additional second lien mezzanine commitments.
Since its acquisition by Oak Hill Capital Partners in 2010, ViaWest has continued its rapid growth. In 2011, the company opened new premium data centers in the Portland, OR and Dallas, TX markets, bringing its total number of data centers to 22. ViaWest also recently announced several strategic product launches including its KINECTed Storage, Managed Security, KINECTed Back Up and KINECTed Cloud solutions. ViaWest anticipates that it will utilize the additional capital to continue its market expansion and to further drive its product portfolio, particularly in cloud computing and managed services.
“As a result of ViaWest’s outstanding growth and industry reputation, we received numerous commitments from new and existing lenders,” states Michael Krza, CFO of ViaWest. “With this additional funding, we will continue to execute on our strategic growth plans, invest in new and expanded data center facilities and further develop the latest technologies and managed services our clients require.”
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