ASHBURN, Va.--(BUSINESS WIRE)--CPG announced today that funds managed by Columbia Capital, a private equity firm focused on internet infrastructure, enterprise IT, and mobility, with over $3B in fund commitments raised, will acquire a majority interest in the company and merge them with Canara, a Columbia Capital portfolio company. The transaction will provide CPG with increased access to capital in support of its aggressive growth strategy, while the merger will allow CPG to leverage Canara’s proprietary predictive analytics software and expand their cutting-edge capabilities in the data center industry. The newly formed entity will operate under the CPG company name and Tom Mertz, former CEO of Canara, will serve as CEO. CPG Managing Partners Gerry Jepson and Anthony Rizzo will remain material shareholders and continue to manage day-to-day operations of their existing business units.
“We have been looking for a world-class service organization to support the ongoing growth of Canara’s predictive analytics platform,” said Patrick Hendy, partner at Columbia Capital. “CPG’s long-standing reputation for excellent service, combined with their strong management team and focus on partnerships, made them the perfect choice. To this end, CPG’s Managing Partners, Gerry Jepson and Anthony Rizzo, will play an integral role in the new senior management team and have been named Presidents of their respective divisions.”
“When Columbia Capital acquired Canara in 2012, we developed a strategic plan to leverage our proprietary technology platform supported by world-class services,” says Tom Mertz, CEO. “At Canara, we’ve had tremendous success applying our predictive technology to batteries then leveraging our service platform to more effectively manage battery assets. With this merger, we will expand beyond batteries; fully realizing our strategic vision to leverage our technology to better design, build and operate the data centers of the future. It’s a very exciting time for all of us.”
“Columbia Capital has a proven track record of success and expertise in the data center category and their backing will allow us to deliver products and services that will take both CPG and our customers to the next level,” says Gerry Jepson. “Leveraging Canara’s proprietary predictive analytics software will enable us to take advantage of the industry trends in AI and Big Data to optimize our service offerings and maximize the benefits to our partners.”
“This recapitalization will enable us to continue to fund the exponential growth CPG has been experiencing over the past several years,” adds Anthony Rizzo. “We’ve just scratched the surface of the potential in this industry and this move positions CPG to help reshape the global data center industry.”
The newly formed company will be headquartered in Ashburn, Virginia. www.CPGbeyondthecloud.com
About CPG: Headquartered in Ashburn, Virginia, CPG is at the heart of the data center industry. CPG experts are the innovators for cutting-edge data center and cloud solutions. For 20 years, CPG has been providing full-lifecycle, mission-critical infrastructure solutions to some of the world’s most demanding companies by combining and applying the latest facilities infrastructure power, cooling, security and controls at all scales and densities, including modular and hyperscale. www.CPGbeyondthecloud.com.
About Canara: With over 20 years of experience in the data center industry, Canara is a leading provider of predictive analytics and battery asset management services. Canara Critical Power Analytics helps data centers across the globe maximize uptime and ensure efficient asset management of critical backup power systems. Canara Battery Services offers full turnkey battery services. Together, Canara's seasoned team of critical power analysts and field services team provide unmatched visibility and intelligence into essential operations in order to detect potential threats, prevent problems and protect assets. Headquartered in Atlanta and with a West Coast hub in San Rafael, California, Canara’s customers include leading global companies such as Equinix, Cyxtera, Digital Realty Trust, Cologix, and Fidelity Investments. For more information, please visit www.canara.com and follow @Canara on Twitter.