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TD Securities, CIT Increase Cologix Facility to $375MM to Support Acquisition

November 20, 2015, 07:33 AM
Filed Under: Technology

Cologix, a network neutral interconnection and data center company, has completed the previously announced acquisition of Net Access, LLC, a colocation and workspace recovery provider with over 200K gross SQF across three enterprise-grade facilities in Northern New Jersey.  The acquisition adds significant scale to Cologix's network neutral data center platform, which now includes 24 data centers across 9 North American markets (6 markets in the U.S. and 3 in Canada).

Cologix increased its existing Credit Facility to $375 million to provide financing for the acquisition.  TD Securities and CIT Group are joint lead arrangers and joint bookrunners for a new First Lien Term Loan with ING as syndication agent and CIT as documentation agent.  Goldman Sachs Specialty Lending Group is the sole lead arranger and administrative agent for a new Second Lien Term Loan.  Existing and new credit partners rounded out the remainder of the commitments. 

"We are pleased with the depth of our bank syndicate and their ability to support us on the successful execution of this transformative transaction," said Brian Cox, chief financial officer, Cologix.  "With the expanded credit facility we will continue to make significant strategic investments in our high growth platform."

Cologix's expansion into Northern New Jersey complements its approach of focusing on unique, growing markets that offer alternatives to legacy data center hubs. These markets are seeing positive demand trends from Internet content moving closer to the end users and enterprises outsourcing IT deployments to colocation facilities for the first time.  The three Net Access data centers are approximately 30 miles outside New York City, over 250ft above sea level and connected via a dark fiber network that extends to key carrier hotels for access to robust connectivity options.  

Cologix Inc. is a network-neutral interconnection and colocation data center company headquartered in Denver. Cologix provides scalable interconnection services and secure, reliable colocation services. Cologix operates densely connected, strategically located facilities in Columbus, Dallas, Jacksonville, Lakeland, Minneapolis, Montreal, Northern New Jersey, Toronto and Vancouver.

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