Bay Area Internet Solutions Sells to Stephens Group
By: Blair Felter on January 9, 2014
NEW YORK, NY and BOULDER, CO--(Marketwired - Jul 9, 2013) - DH Capital, LLC ("DH Capital"), an investment banking firm serving companies in the Internet infrastructure, communications and SaaS sectors, is pleased to announce that it served as exclusive financial advisor to Bay Area Internet Solutions ("BAIS"), a leading data center provider of colocation, managed IT and high speed access services, on its sale to The Stephens Group, LLC ("Stephens Group"), who partnered with the vXchnge management team on the transaction.
Thomas Wye, Chairman and CEO of BAIS Inc., said, "This is an excellent opportunity for our customers and employees. I am grateful to the DH Capital team for the guidance they provided us every step of the way as we negotiated this strategic transaction."
"We are pleased to have assisted BAIS in this exciting transaction. Tom and his team have built a first class data center business and facility," said Townsend Devereux, Partner of DH Capital.
"Through this transaction, BAIS is well-positioned to achieve further success with the financial support from The Stephens Group and the successful track record of the vXchnge management team," added Peter Hopper, CEO of DH Capital.
"Bay Area Internet Solutions complements the specific value drivers of our business," said Keith Olsen, CEO of vXchnge. "Over the past eighteen months we have visited many data centers, spoken with numerous customers, both of which were instrumental in creating the tenants of the vXchnge value proposition for network centric businesses. The users of data center services continue to seek more efficient places to run their businesses. The need for increased power solutions, being generated from high performance platforms such as Cloud Services, require an architecture, infrastructure and operation not yet available in a choreographed suite of services. The combination of the vXchnge leadership team and the BAIS business provides this enhanced value proposition platform to network centric businesses," added Mr. Olsen.
"The Stephens Group has successfully backed strong management teams for over eight decades. We have a history of building excellent companies in growth focused markets," said Robert Covington, Managing Director of Stephens Group. "By combining the BAIS company with the vXchnge management team, we have the perfect combination of leadership talent and a world class asset," added Mr. Covington.
Bay Area Internet Solutions (www.bayarea.net) is a premier facilities-based colocation, Managed IT Solutions, and High Speed Access provider. BAIS has been providing exceptional service and support since 1995. BAIS' world class, carrier-neutral data center facilities ensure ultra-fast, reliable connectivity to mission critical business applications. BAIS' commitment to excellence in customer service has earned the trust of its clients to continue their partnership for all their IT solution needs.
About The Stephens Group, LLC
The Stephens Group (www.stephensgroup.com) is a family-owned private equity firm based in Little Rock, Arkansas, that invests patient, flexible capital in partnership with exceptional management teams pursuing long-term growth objectives.
About Blair Felter
As the Marketing Director at vXchnge, Blair is responsible for managing every aspect of the growth marketing objective and inbound strategy to grow the brand. Her passion is to find the topics that generate the most conversations.