Investment fund Nova Infrastructure has purchased a majority stake in US-based data center operator DartPoints from Astra Capital Management.
Nova’s investment includes an injection of growth capital that is designed to scale DartPoints’ platform and “expand its footprint through targeted investments in capacity expansion and strategic M&A to meet market demand,” a joint statement from the firms said.
Orion Infrastructure Capital has also put cash into the business and will become a minority stakeholder, while Astra will retain a minority holding. Though terms of the deal have not been disclosed, Nova and Orion claim to have invested a total of $250 million in DartPoints.
“We’re excited to partner with a best-in-class data center management team and platform serving a diverse and growing base of enterprise customers,” said Chris Beall, managing partner at Nova. “We look forward to growing the business and capitalizing on the significant opportunity in DartPoints’ target markets, which benefit from shifting demand trends and the decentralization of digital workloads.”
Founded in 2012, DartPoints serves more than 900 enterprise customers, including major universities, hospital systems, and Fortune 500 companies, from 11 data centers in 10 markets across South Carolina, North Carolina, Ohio, Indiana, and Louisiana.
As part of the deal, DartPoints has acquired the underlying real estate of its Greenville, South Carolina, Baton Rouge, Louisiana, and Asheville, North Carolina data centers. DCD reported earlier this week that the company had purchased its Baton Rouge facility for $9.4 million.
“We’re entering a new phase of growth centered on infrastructure ownership, operational control, and strategic market expansion,” said Scott Willis, CEO of DartPoints. “We’ve always believed that Tier 2 and Tier 3 markets deserve the same digital capabilities as Tier 1 metros.
“This transaction positions us to bring scalable, secure infrastructure closer to the demand wherever it’s needed, especially as data-intensive workloads take hold across industries. We are thrilled to work with Nova to efficiently and effectively grow our business.”
