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 Channel Futures

Strategy


Peak 10 Scores $95 Million for Managed Services Expansion

  • Written by Joe Panettieri 1
  • January 5, 2010
Apparently, credit markets continue to open up and lenders are interested in well-run managed service providers. The latest evidence: Peak 10, which specializes in managed services, has expanded its credit facility to $95 million. Here's how Peak 10 plans to use the money.

According to a company press release:

peak10Apparently, credit markets continue to open up and lenders are interested in well-run managed service providers. The latest evidence: Peak 10, which specializes in managed services, has expanded its credit facility to $95 million. Here’s how Peak 10 plans to use the money.

According to a company press release:

“Peak 10 will invest additional resources and capital into its managed services platform, particularly its next-generation private cloud infrastructure. The company has been delivering cloud-based solutions to customers for several years and will be performing a technology refresh to stay ahead of the market. Peak 10 customers who utilize its private cloud solutions will enjoy increased scalability and performance with access to external cloud resources, all while maintaining a high level of security and integrity.

That last paragraph includes plenty of buzzwords — cloud, cloud, cloud, cloud, coupled with scalability, security and integrity.

But this is more than a hype story. Peak 10 is SAS 70 Type II compliant and assists companies with regulatory compliance acts such as Sarbanes-Oxley, HIPAA, PCI and Gramm-Leach-Bliley. The company owns and operates data centers in 10 key markets that include Cincinnati, Ohio; Atlanta, Ga.; Raleigh and Charlotte, N.C.; Tampa, Jacksonville and Fort Lauderdale, Fla.; Nashville, Tenn.; Louisville, Ky.; and Richmond, Va.

Apparently, lenders believe in Peak 10’s vision and business management. According to the press release, RBC Capital Markets, GE Capital Corporation and Royal Bank of Canada are involved in Peak 10’s credit expansion.

Got Access to Cash?

Even if you don’t need money or funding right now, take some advice from my dad. He always told me to secure a line of credit before you need it. The reason? You won’t be able to get a line of credit when you truly do need it.

Clearly, Peak 10 plans to plow big money back into its business. Even if you’re more conservative with your growth plans go get that line of credit.

Tags: Cloud Service Providers Digital Service Providers MSPs VARs/SIs Strategy

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5 comments

  1. Abe Fordman January 5, 2010 @ 2:21 pm
    Reply

    Maybe now they can afford to hire 3rd shift employees that won’t fall asleep and not answer our support calls.

  2. Joe Panettieri January 5, 2010 @ 3:23 pm
    Reply

    Abe: We welcome reader comments but we push hard for readers to disclose their background. It’s fine to offer constructive criticism but can you disclose whether you’re a Peak customer? Rival?
    -jp

  3. Abe Fordman January 5, 2010 @ 7:14 pm
    Reply

    I apologize to Peak10. I mis-remembered. I went back to get information on the issue. It was a carrier issue for a client hosted at Peak10. The carrier’s tech was the one that fell asleep.

  4. Joe Panettieri January 5, 2010 @ 7:20 pm
    Reply

    Abe: Thanks for coming back and clarifying the situation.
    -jp

  5. Michael Best January 11, 2010 @ 11:25 am
    Reply

    I have been a Peak 10 customer for about 6 years in Jacksonville, Fl. I’ve seen them really out grow the original data center that I moved into. During the period when hurricanes were very active we saw customers move in in droves. Now they have a brand new facility that was opened about 2 years ago right next to the old one. I promptly moved my servers over there because going into the old facility was like entering a cyclone. They had to put ear protection next to the entrance it was so noisy from all the air handlers. Now I am in the new facility with raised floors and so much free room its quit and comfortable.

    I’ve worked on my servers in the late night and early morning hours and have found the guy sitting behind the glass was willing to come talk to me and ask if he could assist in anything. I got the feeling though he was just making sure I was a legitimate customer doing legit business.

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