Meritage Funds, True Ventures, and TDF Ventures. googletag.pubads().collapseEmptyDivs(); The You can change your cookie settings at any time. New York, NY 10001. var googletag = googletag || {}; “Management is committed. Financial terms weren’t announced, but Private Equity News’ sister title Barron’s has learned that EdgeConneX sold for $2.5bn to $3bn. googletag.pubads().enableSingleRequest(); Otherwise, we'll assume you're OK to continue. Akamai Technologies any kind between RelSci and Jan Vesely. “Telecom infrastructure continues to be a strategic asset, is an important part of how we meet the needs of our Cox Business customers and something that we’ll continue to explore when investment or acquisition opportunities arise,” a spokesman said. [1] Carlyle purchased Synagro for $772MM, yet EQT Partners purchased the defunct company for $455MM, netting Carlyle a loss of over $317MM. }); The EdgeConneX deal reflects the extraordinary demand for capital to fuel the growth of the data economy, even amid the COVID-19 pandemic. googletag.enableServices(); Regeringsgatan 25 Mr Vesely holds master’s degrees in Business Administration from the University of Mannheim and Portland State University. Negotiation for … The funds assume the position of chairperson. EdgeConneX, of Herndon, Virginia, builds and operates data centers for cloud, content, network, and other service providers. “EQT has followed EdgeConneX’s journey from its early years to its growth into a top data center industry player,” said Jan Vesely, Partner at EQT Partners. }); EdgeConneX sees this as the third wave of edge deployments. Now I'm exploring the future of cloud computing at Data Center Frontier. EQT looks forward to working with the team in continuing to grow the business and identify new expansion opportunities.” “We think this is the best platform in this industry …It’s an ideal fit for us, not only with their exposure to the cloud endmarkets but their geographic diversity across North America and Europe. “We fully expect EdgeConneX will continue its momentum and success as the company enters this next chapter,” said Christopher Ragona, a Providence Equity managing director, said in a statement. Business line Ventures focuses on early stage companies by employing a multi-stage strategy. Maintaining a safe and healthy work environment is a crucial responsibility of employers, and most companies have a health and safety policy to prevent injuries and illnesses at work. 1 data center market in the country.
EQT has known the EdgeConneX team for years and has met them “at least 20 times,” Vesely said.
New York City Metropolitan Area. This web site is not endorsed by, directly affiliated with, maintained, authorized, or Qazi Fazal of Evercore provided financial advice to EdgeConnex while Katie Sudol, Andrew Blau and Lori Lesser of Simpson Thacher & Bartlett acted as legal counsel to EdgeConneX. Expand your fundraising pool and make warm introductions to potential new business connections. The funds assume the position of chairperson or in case of a co-control deal a seat on the board of directors. Mr Jan Vesely is responsible for telecommunications infrastructure investments for EQT in the Americas and has been responsible for several transactions in the telecommunications industry including Lumos and Spirit which today combined operate as Segra, the leading independent fiber provider in the Carolinas and the Mid-Atlantic region as well as Zayo, the leading independent fiber … David L. Solomon, managing partner of Meritage Funds, said his firm invested $15 million in total in EdgeConneX. EQT … Find RelSci relationships, employment history, board memberships, donations, awards, and more. By signing up for our newsletter, you accept our terms and conditions as outlined under pe-insights.com/privacy-policy. All rights reserved. var node = document.getElementsByTagName('script')[0]; The transaction is expected to close in the fourth quarter. It operates through the following segments: Zayo Networks, Zayo Colocation (zColo), Allstream, and Other. node.parentNode.insertBefore(gads, node); The COVID-19 pandemic presents strategic challenges for the data center and cloud computing sectors. EdgeConneX has been up for sale since 2019. EQT Partners AB, EQT Partners, Inc., MTN Infrastructure TopCo LP, Zayo Group Holdings, Inc. Stay informed and up-to-date on your network with RelSci news and business alerting service. Jan Vesely Partner at EQT Partners. “We’re incredibly happy,” he said. googletag.defineSlot('/1061671/DCF_300x250_Inarticle', [300, 250], 'div-gpt-ad-1442607909300-0').addService(googletag.pubads()); A relationship does not necessarily indicate a personal connection. That vision has positioned EdgeConneX as an experienced hand in a young ecosystem, where the customers range from startups to tech giants. “EQT brings significant financial resources and digital infrastructure industry experience which EdgeConneX will use to accelerate growth and invest in new data centers around the world,” said Randy Brouckman, CEO of EdgeConneX. Charting the future of data centers and cloud computing. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. EdgeConneX use its EdgeOS data center operating system to monitor and manage its facilities, with more than 1.5 million sensors used in the company’s data centers, monitored every 15 milliseconds.
Jan Veselý is a Czech professional basketball player who plays for Fenerbahçe of the Turkish Basketball League (TBL). Subscribe to our Newsletter to increase your edge. It doesn’t work very well with people you don’t know,” he told Barron’s. Blackstone Boosts Internet Bet With Virginia Data-Center Deal, PE-backed Lenders pull IPOs even as mortgage market thrives, PE has a London problem – and it is hurting the UK. agreed Wednesday to buy EdgeConneX, a large data center provider, from investors including Providence Equity Partners. Microsoft Synagro entered Bankruptcy for missing debt payments and failing to service its heavy debt load.
Nurture your network and further your business goals with smart intelligence on the people and companies that matter most to you. The firm has begun fundraising for its fifth infrastructure fund, which has a €12.5bn target. EQT is an infrastructure fund that has been an active investor in digital assets, most notably teaming with Digital Colony to acquire the Zayo Group and its telecom and data center networks. University of Mannheim. The Real Assets segment comprises two business lines: Infrastructure and Real Estate. (AMZN). All Rights Reserved. The EdgeConneX auction went on hold for about four weeks when Covid-19 began upending the US stock market in the spring, Brouckman said. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. We believe in the company, we believe in the space, we believe in the customers,” Brouckman told Barron’s.
The company was founded by John Louis Scarano, Sandi Mays, and Daniel P. Caruso on November 13, 2007 and is headquartered in Boulder, CO. EQT Partners AB, Digital Colony Management LLC purchase Zayo Group Holdings, Inc. EQT Partners AB, EQT Infrastructure Ltd. purchase Segra. Write to Luisa Beltran at luisa.beltran@dowjones.com. The auction didn’t end but was “extended into 2020 as new entrants came in,” Brouckman said. Think power systems, cooling, solutions, data center contracts and more. EQT - key executives, insider trading, ownership, revenue and average growth rates. All told, it has deployed more than 40 data centers. For the best Barrons.com experience, please update to a modern browser. Mr Jan Vesely is responsible for telecommunications infrastructure investments for EQT in the Americas and has been responsible for several transactions in the telecommunications industry including Lumos and Spirit which today combined operate as Segra, the leading independent fiber provider in the Carolinas and the Mid-Atlantic region as well as Zayo, the leading independent fiber communication infrastructure company in the US, Canada and Europe.
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Volatility due to Covid-19 pandemic caused mergers as a whole, as well as initial public offerings, to go on hold. “I look forward to continuing to lead EdgeConneX, and we are very pleased to have EQT as our new owner and partner in this exciting growth phase.” googletag.cmd.push(function() { Vesely, however, admitted that it’s “hard to replace going out to dinner with a Zoom call.”, The Stockholm private equity firm has done other digital infrastructure deals including buying Zayo Group in March and Segra in 2017. “Telecom infrastructure continues to be a strategic asset, is an important part of how we meet the needs of our Cox Business customers and something that we’ll continue to explore when investment or acquisition opportunities arise,” a spokesman said.