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$56 Million Growth Equity Investment in IO
Sterling Partners, a leading U.S.-based private equity firm, announced today that it has led a $56 million growth equity investment in IO Data Centers, a fully integrated data center services company based in Scottsdale, AZ.
IO Data Centers designs, builds, and operates world class data centers providing conditioned, uninterruptible power available in internet-connected data center suites and colocation facilities to Information Technology departments of businesses and governments. IO Data Centers provides value to its customers through a proprietary process that integrates high performance engineering, design and construction, and 24/7/365 operations by its own staff of technology professionals. The Company plans to expand its footprint throughout North America to meet the increasing demands of its customers.
Sterling Partners Principal Shoshana Vernick said, “The continued high demand for data center services is not being met by existing supply or by existing service providers. IO Data Centers is well positioned to lead this next wave of data center expansion.”
Anthony Wanger, Co-Founder and President of the Company, added, “Our customers demand for 24/7/365 power is growing exponentially. The investment by Sterling provides IO Data Centers with the capital to significantly expand our data center operations and meet this demand, even under the current difficult conditions in the credit and equity markets. We are profitable, growing, and well-capitalized, which means that we will continue to be the leading provider of scalable IT infrastructure to our customers.”
About Sterling Partners
Sterling Partners is a private equity firm with a history of generating superior returns for its investors. With nearly $4 billion of capital under management, the firm invests in industries with positive, long-term trends and provides on-going support with a diverse and balanced team of industry veterans, operators, investors, strategy experts, and human capital professionals. For more information, please visit www.sterlingpartners.com.
About IO
IO is a global leader in software-defined data centers and has pioneered the next generation of data center infrastructure technology. IO's integrated hardware and software data center technology platform offers enterprises, governments, and service providers an innovative way to deploy, provision, and optimize data center capacity anywhere in the world. IO technology lowers the total cost of data center ownership compared to traditional data centers, enabling dynamic deployment and intelligent control based on the needs of IT equipment and applications in the data center.
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