Daily News: November 20, 2015

TD, CIT Arrange Facility Upsize to Accommodate Cologix Acquisition


Cologix, a network neutral interconnection and data center company, announced it completed the previously announced acquisition of Net Access, a colocation and workspace recovery provider. The acquisition adds significant scale to Cologix’s network neutral data center platform, which now includes 24 data centers across nine North American markets (six markets in the U.S. and three in Canada).

Cologix said it increased its existing credit facility to $375 million to provide financing for the acquisition. TD Securities and CIT Group are joint lead arrangers and joint bookrunners for a new first lien term loan with ING as syndication agent and CIT as documentation agent.

Goldman Sachs Specialty Lending Group was the sole lead arranger and administrative agent for a new second lien term loan. Existing and new credit partners rounded out the remainder of the commitments.

“We are pleased with the depth of our bank syndicate and their ability to support us on the successful execution of this transformative transaction,” said Brian Cox, chief financial officer, Cologix. “With the expanded credit facility we will continue to make significant strategic investments in our high growth platform.”

Net Access was a portfolio company of private equity firm Seaport Capital. Seaport Capital and Net Access have been represented in this transaction by investment bank DH Capital.