NOVA Infrastructure (“NOVA”), a middle-market infrastructure investment firm, has announced the completion of a majority investment in DartPoints, a leading provider of secure, high-performance data center solutions for enterprises. The investment includes a significant growth capital component to meet market demand.
“We’re excited to partner with a best-in-class data center management team and platform serving a diverse and growing base of enterprise customers,” said Chris Beall, Managing Partner at NOVA. “We look forward to growing the business and capitalizing on the significant opportunity in DartPoints’ target markets, which benefit from shifting demand trends and the decentralization of digital workloads.”
DartPoints provides essential IT services to over 900 enterprise customers, including major universities, hospital systems, and Fortune 500 companies, from 11 data centers in 10 markets across South Carolina, North Carolina, Ohio, Indiana, and Louisiana. As part of the transaction, DartPoints acquired the underlying real estate in its Greenville, SC; Baton Rouge, LA; and Asheville, NC data centers.
Existing sponsor Astra Capital Management will retain a meaningful minority stake in the business. Orion Infrastructure Capital (“OIC”) has also joined as a lender and investment partner, providing a senior secured credit facility and participating as a minority equity investor. NOVA and OIC’s commitments to DartPoints total more than $250 million of capital.
Scott Willis, CEO of DartPoints, said the transaction positions the company to “bring scalable, secure infrastructure closer to the demand wherever it’s needed, especially as data-intensive workloads take hold across industries.”
Bank Street Group served as exclusive M&A advisor, Houlihan Lokey advised on the debt financing, and Sheppard Mullin and Debevoise & Plimpton served as legal counsel to DartPoints. Winston & Strawn served as legal counsel for NOVA and Vinson & Elkins served as legal counsel for OIC.
