DC BLOX Captures $187M in Financing

The DC BLOX data center in Birmingham sits on the former Trinity Steel site.

Data center operator DC BLOX announced this week that it has secured $187 million in long-term financing to refinance existing credit facilities, add liquidity to the balance sheet and provide additional capital for new and existing data center capacity.

Post Road Group and Bain Capital Credit were leaders in the financial package.

DC BLOX continues to stand out as a unique pure-play data center operator focused on underserved growing cities,” the company said in announcing the deal. “The new funding illustrates resounding trust in its strategic vision and leadership team implementing the Company’s business plan to build and expand high-quality, multi-tenant data center facilities.”

Jeff Uphues, CEO of DC BLOX, said the investment and financing represents a significant milestone for the company, and CFO Kevin O’Donnell added: “This capital will be immediately deployed to support growth in our existing facilities and accelerate the expansion of our Tier III-designed interconnected data center platforms in other markets throughout the Southeastern United States.”

“Edge computing, storage, and connectivity aggregation points are increasingly pushing outside of major metropolitan areas, and DC BLOX is well-positioned to capitalize on this expansion and deliver a state-of-the-art data center network to smaller markets. We look forward to the partnership with DC BLOX and to supporting the Company’s growth,” said Brian Hirschfeld, a managing director at Bain Capital Credit.

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In addition to its data centers in Huntsville and Birmingham, Atlanta-based DC BLOX operates data centers in Chattanooga, Tennessee, and Greenville, South Carolina. The firm has raised more than $285 million in financing since 2016.

Read about DC Blox expansion here. 

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