GI Partners, a private equity firm based in Menlo Park, Calif. has acquired Charlotte, N.C.-based cloud services provider (CSP) Peak 10. Terms of the deal were not disclosed. Peak 10's previous owner was private equity firm Welsh, Carson, Anderson & Stowe which acquired the company in 2010 for $410, according to the Charlotte Observer.
Operating in 10 U.S. markets, Peak 10 provides hybrid IT infrastructure services to customers, including data center services, private and enterprise cloud infrastructure, and managed services.
Peak 10 President and CEO David Jones told Talkin' Cloud via email that his company's relationship with "Welsh Carson created a strong foundation for our next phase.
"They helped us enhance our capabilities in a number of functional and operational areas," he said. "We also expanded our commercial resources pretty significantly."
But Jones expects the new ownership to bring Peak 10 into its next stage. "There is no doubt the industry is dynamic and changing," he said.
"We have been very agile throughout that change and GI Partners has deep experience in value creation within the sector," he said.
He said the acquisition is a positive move for the company "and allows us an opportunity to expand in new directions, sustain new growth and leverage our partner program."
"Through our well-established leadership team, our Partner Alliance program, and a well-defined operational automation strategy, this strategic financial partnership will create many opportunities and drive deeper and more meaningful relationships with our customers and channel partners," he said.
The transaction is subject to regulatory approvals, but Peak 10 expects the deal to close in the second quarter of 2014. GI's portfolio of technology investments includes Digital Realty Trust (NDLR), The Telx Group and SoftLayer Technologies.