The top provider of colocation, cloud, disaster recovery and managed services, Xand, announced the increase of debt financing to over USD200 million. This increase was attributed to the recent favorable market conditions prevalent and would be utilized for acquisitions and facility expansion.
According to Xand President and CEO Yatish Mishra, "This financing is a respunding of vote of confidence in Xand's performance from our financial partmers. The increase in available funds further bolsters our company's strategic plan of investment, expansion and acquisition to meet the dramatic surge in demand for services from our customers in the Northeast market."
Back in 2012, Xand conducted a number of acquisitions, such as the purchase of Access Northeast Inc and Data Based Systems International Inc. This increased the total service area to six data centers located in four different states, namely New York, Pennsylvania, Massachusetts and Connecticut.
Xand's majority owner is ABRY Partners, a private equity firm based out of Boston, MA. ABRY Partners recently modified its current financing arrangements with banking partners through the assistance of TD Securities LLC and GE Capital Markets Inc.
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