Hosting News
Hosted Solutions Acquired by Private Equity Firm for $140 Million
2008-04-09
CEO Rich Lee Says Transaction Will Accelerate National Growth and Expansion
Plans
Raleigh, NC, Boston, MA - 4/8/08 - Hosted Solutions, the East Coast's
premier data center and managed services provider, announced today that the
company has been acquired by ABRY Partners, a Boston, Massachusetts private
equity firm for $140 million.
The Hosted Solutions management team will continue to lead the company from the
Raleigh, NC headquarters.
"This is an incredible milestone for our business, "says Rich Lee, Founder and
CEO of Hosted Solutions. "Partnering with ABRY Partners provides us with the
capital to fulfill our vision and accelerates our strategic growth plans."
Investor ABRY Partners is one of the most experienced and successful media and
business focused private equity investment firms in North America. Since 1989,
ABRY has completed over $21 billion of transactions and other private equity and
mezzanine investments, representing investments in more than 500 media and
business properties.
"Over the last seven years, we've built a business that we're incredibly proud
of, growing in a controlled, strategic way to become a profitable company with
five state-of-the-art data centers and a reputation for providing world class
service," says Lee. "Our employees and customers will see great benefit from
this transaction as ABRY is a long-term partner that shares in our commitment to
continue to grow the business and set the standard in the industry for service
and innovation."
"Hosted Solutions operates an incredibly strong business," says C.J. Brucato,
Partner of ABRY Partners. “They’ve built a leading company in a market with
great growth prospects. What impressed us most about Hosted Solutions is the
quality of operations, the focus on customers and the controlled manner in which
they've grown. They're a profitable business generating strong revenue today and
we see tremendous potential for the business to continue to grow and expand.”
Industry analysts agree. "The managed hosting sector is an incredible standout
in the midst of the current economic downturn, with strong growth and amazing
prospects looking ahead," says Dan Golding, Vice President and Research Director
for Tier 1 Research, a firm that analyzes the technology marketplace.
"Enterprises demand managed hosting providers that are technically adept, as
well as capable of scaling with business requirements. Managed hosting providers
that can pull off this combination are very much in the driver’s seat."
Hosted Solutions was exclusively represented by DH Capital, LLC, a leading
investment banking partnership serving the data center and managed hosting
industries.
Photography and video footage available. Please email
alanning@919marketing.com or call
919-459-8158 for more details.
About Hosted Solutions:
Hosted Solutions' high quality Data Center and Managed Hosting services maintain
and protect customers' mission-critical IT systems and applications, enabling
them to reduce operating costs, lower the risk of downtime, focus on core
competencies, and achieve their top business objectives. The company operates
SAS 70 Certified facilities in Boston MA, Charlotte NC, Raleigh NC, and Cary NC
providing best-of-breed data center operations with hardened physical
infrastructure, the highest level of security, and a complete managed services
portfolio. For more information please visit
www.hostedsolutions.com.
About ABRY Partners:
Based in Boston, Massachusetts, ABRY Partners enjoys a position amongst the most
experienced and successful media, communications and information sector-focused
private equity investment firms in North America. Since 1989, ABRY has completed
over $21 billion of transactions and other private equity and mezzanine
investments, representing investments in more than 500 media, communications and
information companies. Extensive and long-standing relationships with many
different stakeholders and financing partners in its focus sectors allow ABRY to
contribute significant value to operating partners and portfolio companies. More
information about ABRY is available at
www.abry.com.
Contact:
Ashlie Lanning
alanning@919marketing.com
(919) 557-7890
Click here for more information
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