i/o Data Centers today announced the closing of $200 million in two financings, including a senior long term credit facility of up to $130 million led by Wells Fargo Bank and Wells Fargo Securities and a $70 million secured facility led by Caterpillar Financial Services Corporation.
“Demand for data centers as a service continues to be strong,” said George D. Slessman, CEO of i/o. “This new long term capital enables i/o to execute its Enterprise Class Data Center Roadmap. We will add 35 megawatts of data center capacity for our customers within the next 12 months.”
In addition, Jonathan F. Mauck, CFO of i/o, noted that “The next phase of our growth plan is fully funded.”
Steven Reinhart, senior vice president of Wells Fargo, said that “The strength of i/o’s customer base, balance sheet and cash flow are a testament to the strength of its business model and management. We look forward to a long term relationship with i/o.”
William Luetzow, managing director of Caterpillar Financial Services’ Global Power Finance-Americas, added, “We’ve enjoyed a long-term financing relationship with i/o since its inception. The high quality i/o power systems and their customer base of multi-national enterprises are an excellent fit with Caterpillar’s worldwide finance and distribution capabilities.”
i/o has grown rapidly over the past three years and recently announced the launch of i/o ANYWHERE, a modular data center service that allows it to deploy data center capacity anywhere a customer requires it.
“This latest financing, key additions to our management ranks, and our world class customer base position i/o for additional growth and success as the industry’s leading provider of enterprise co-location and data center solutions,” Slessman said.