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Managed services provider Peak 10 (www.peak10.com) announced on Tuesday it has expanded its credit facility to $95 million in an effort to accelerate its expansion plans and finance the development in its high-growth metropolitan markets.

In May 2008, the company previously amended and expanded its credit facility of $60 million.

RBC Capital Markets acted as the sole lead arranger and sole book runner for the bank syndicate, while GE Capital was the syndication agent.

Royal Bank of Canada was the documentation agent and will act as administrative agent for the lenders.

"Our consistently improving financial results and strong cash flow coupled with the expanded credit facility further position us to execute our business plan centered on accretive organic growth and new market expansion," says Brian Noonan, the chief financial officer of Peak 10. "Being able to obtain flexible and competitive terms in the current market and attract new lenders speaks volumes about our disciplined business operating philosophy and financial metrics."

With a data center footprint totalling 80,000 square feet on Jacksonville's southside, Peak 10 has seen significant growth by acquiring established data center companies in Louisville, Nashville, Richmond, and most recently, Fort Lauderdale. 

In late 2007 and early 2008, Peak 10 opened green data centers in Atlanta and Cincinnati, respectively.

Additionally, over the last 18 months Peak 10 has completed construction of additional facilities in its Nashville, Tampa, and Raleigh and Charlotte markets to meet customer growth and demand.

Peak 10 will invest additional resources and capital into its managed services platform, particularly its private cloud infrastructure, which is built on VMware's vSphere 4 platform.

Read more: theWHIR.com - Daily Web Hosting News