By ET Bureau - October 07, 2020 2 Mins Read
Chirisa Holdings Inc. today announces that 365 Data Centers, a leading hybrid data center and network solutions provider, has been acquired by Stonecourt Capital LP.
Chirisa has led the investment in 365 since 2017 alongside CEO Bob DeSantis and co-investors Lumerity Capital, Turning Rock Partners and Longboat Advisors. Over that time, 365 has developed into one of the largest privately-owned operators across the eastern United States, delivering cloud, colocation and connectivity solutions to over 650 enterprise, carrier and content clients across 12 data centers and a further 21 network nodes.
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“We are pleased to welcome Stonecourt as a partner in 365 Data Centers”, said DeSantis, “and we are excited to partner with them to foster the next phase of the Company’s expansion. On behalf of the entire 365 team, I want to thank our outgoing investors, Chirisa and Turning Rock Partners, and our outgoing Board members, Colm Piercy and Maggie Arvedlund, who have supported 365 and its management team since the beginning.”
Colm Piercy, Chirisa founder and Executive Chairman, noted “This transaction is a key milestone for 365 and highlights the unrivalled achievements of the team to significantly scale and transform the business into a leading provider of hybrid data infrastructure services. The engaged partnership among the 365 investor group of Turning Rock, Lumerity, Longboat, Quay Ventures and Chirisa has been highly effective in driving a significant return from our strategy, resources and capital invested in the business.”
In relation to Chirisa’s near-term investment outlook, Piercy added “Chirisa has developed a well-capitalized, robust and differentiated investment platform in digital infrastructure. Our firm is deeply engaged in a pipeline of attractive investment prospects. We have strengthened and expanded our team with key hires, leadership, and new geographies in the last 12 months. Our successful investment in 365 is the latest example of Chirisa’s ability to put our own capital and judgement as an investor/operator to work alongside institutional investors. Chirisa and our partners leverage our proprietary insights, strategy and relationships to deliver outsized returns at scale. We continue to see interesting opportunities for value creation from Chirisa’s unique approach to investments in critical digital infrastructure.”
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