Cervalis raises new equity funding from Goldman Sachs
Additional funding to assist the company in its continued strategic growth plans
Shelton, CT - September 9, 2010
Cervalis LLC, a premier provider of IT infrastructure solutions including business continuity and rapid recovery, managed hosting and colocation, today announced the closing of a preferred equity investment from Goldman Sachs. The company will use the proceeds from the new investment to accelerate its data center expansion.
"We are very pleased to have completed this important transaction" stated Michael Boccardi, CEO of Cervalis. He continued, "The partnership with Goldman Sachs provides us with growth capital to accelerate our strategic expansion plans. Additionally as a company, going forward we will have the benefit of Goldman’s broad industry experience in this sector to help guide us in fulfilling our long-term objectives for all our shareholders."
Lawrence F. DeGeorge, Chairman of Cervalis further commented "We realized during our investment process Goldman Sachs’ extensive experience in this sector made them an exceptional fit with Cervalis. As Chairman and the company’s majority shareholder, I am delighted we have them as a partner. The entire Cervalis team is pleased to work with them to grow our business."
Cervalis has recently opened a brand new 150,000 sq. ft. data center facility in Northern New Jersey. The additional capital will be used to expand Cervalis' footprint in existing and new markets.
DH Capital, LLC, an investment banking firm serving the Internet infrastructure and communications sectors, acted as exclusive financial advisor to Cervalis on the transaction.
Cervalis is a premier provider of IT infrastructure services including colocation, business continuity and managed hosting solutions that enable customers to achieve higher level of business resilience and accelerate the way companies meet their business objectives. Through its state-of-the-art, fault-tolerant Operations and Recovery Centers, Cervalis offers world-class customer support with the technology needed to scale complex environments reliably and cost effectively. Cervalis facilities are SAS70 Type II and Cybertrust compliant. To learn more about the Cervalis advantage, please visit www.cervalis.com or call toll-free 1-866-602-2020.
For more information please contact:
Mr. Zack Margolis
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