Founded in 2011, Stonepeak invests in businesses comprised of hard assets with leading market positions across the energy, transportation, utilities, water and communications sectors. It manages $6.4 billion of capital for its investors.

DENVER—Colocation services provider Cologix said Thursday afternoon that Stonepeak Infrastructure Partners had agreed to acquire a majority interest in the company. Deal terms were not disclosed; however, the Wall Street Journal reported this past December that a potential sale of Cologix, which operates 24 data centers in nine key US markets, could be valued at more than $1.25 billion.

Stonepeak will invest $500 million of capital incrementally to help support Cologix's growth plans. “We have felt for some time that the opportunity within our markets and our sector broadly has far more potential than we have been able to practically finance,” says Cologix CEO Grant van Rooyen. “With this transaction and the incremental investment, we will now have the financial capacity we want and need.”

At New York City-based private equity firm Stonepeak, co-founder Trent Vichie observes, “Enterprise-grade data center infrastructure, especially when combined with robust interconnection hubs, will be increasingly important to the digital supply chain in the coming years. Cologix has built an exceptional platform and team that is well positioned to accelerate growth by using the power of interconnection to support key industry trends, including content moving to the edge, the rise of cloud computing and enterprises outsourcing data centers.”

Post-acquisition, van Rooyen and other members of the Cologix management team will continue to run the business in their current capacities. The existing Cologix investors—including the van Rooyen Group, company management, Columbia Capital and Greenspring Associates—will continue to hold a material interest in the company and will participate in future growth equity investments. The Cologix board will be chaired by van Rooyen; joining him on the board will be Vichie, Brian McMullen, Bill Fathers and Peter Bruce, all from Stonepeak; Patrick Hendy from Columbia; and Neil Hobbs representing the van Rooyen Group interests.

Founded in 2011, Stonepeak invests in businesses comprised of hard assets with leading market positions across the energy, transportation, utilities, water and communications sectors. It manages $6.4 billion of capital for its investors.