Crestline Direct Lending Provides Growth Financing
FORT Worth, TX (January 11, 2018) – The Direct Lending team (“CDL”) of Crestline Investors, Inc. is pleased to announce the recent closing of a Senior Secured Credit Facility (the “Facility”) comprised of a term loan and delayed-draw term loan to refinance existing indebtedness and provide growth capital to DRFortress (the “Company”). Layer 7 Capital served as the Company’s financial advisor.
DRFortress is the premier data center in Hawaii. The Company operates a world-class facility and offers a suite of complimentary services including cloud solutions and disaster recovery planning. The Company is the largest and only carrier-neutral data center in Hawaii, and as such is the data center of choice.
Rosa White, CFO at DRFortress commented: “We worked closely with the Crestline team to achieve a financing solution that allowed us to refinance our existing indebtedness and secure a source of capital for future growth.”
“We are excited to partner with DRFortress and look forward to supporting the Company’s continued success as the premier data center in Hawaii,” said Jonathan Ben-Horin, Head of Credit Originations at Crestline.
“We are very pleased with the outcome of this transaction, which will strengthen DRFortress’ position as the leading colocation provider and Internet exchange in Hawaii. We were impressed by Crestline’s flexibility, speed of execution and knowledge of the sector, and we look forward to our partnership going forward,” said Steve Lee, Managing Director of Layer 7 Capital and Board Member of DRFortress.
Crestline invests in data center providers of varying scale and across multiple geographies. This transaction marks Crestline’s fifth investment in the data center industry over the past two years, with over $115 million of committed debt financing provided since Q1 2016.
For more information of Crestline’s financing capabilities in the data center industry please contact Jonathan Ben-Horin (jbenhorin@crestlineinc.com).
About Crestline Direct Lending
Crestline Direct Lending seeks to provide $15-100 million senior secured, unitranche and second lien financings to lower-middle and middle market companies in North America and Europe. CDL lends to companies with highly recurring revenues and has significant experience in technology, media, telecom and healthcare. CDL typically lends to businesses with $4mm+ of EBITDA and can also lend to companies with minimal cash flow on a multiple of recurring revenues. For more information, please visit www.crestlineinvestors.com/directlending.
About Crestline Investors, Inc.
Crestline Investors, Inc, founded in 1997 and based in Fort Worth, Texas, is a credit focused institutional alternative investment management firm. Crestline specializes in credit, opportunistic investments, and hedge fund and beta solutions. In addition to its Forth Worth, Texas headquarters, the company maintains affiliate offices in New York City, Chicago, London, Toronto and Tokyo. For more information, please visit www.crestlineinvestors.com.
About Layer 7 Capital
Layer 7 is a boutique investment bank focused on providing advisory services to companies within the Software-as-a-Service (B2B, B2C), Infrastructure-as-a-Service (Data Centers, Hosting, Cloud), Managed Services (Managed Applications, Managed Infrastructure, Managed Network Services, Managed Security, Outsourced IT), Internet-of-Things and Artificial Intelligence / Robotic verticals. Layer 7 also makes investments in early stage companies as an independent sponsor within its core sectors. Visit www.layer7capital.com for more information.
About DRFortress
DRFortress is a leading provider of innovative IT infrastructure solutions to meet the complex technological requirements of Hawaii’s businesses. Through its world-class data center and comprehensive suite of cloud services, DRFortress assists both local and international companies with maintaining and securing their mission-critical systems and business continuity plans. DRFortress is the largest and only carrier-neutral data center and cloud services provider operating in the State of Hawaii. DRFortress houses the densest concentration of IP carriers in Hawaii and has been meeting the data center needs of Hawaii’s enterprises, content companies, system integrators, carriers, wireless service providers, cable companies and ISPs since 2006. For more information, visit www.drfortress.com.
For more information, please contact
Credit & Opportunistic Investment Opportunities:
Jonathan Ben-Horin
817-339-7169
Media Contact:
Dmitriy Isogeneic
212-279-3115 ext. 243