IT Services Provider Preps For Expansion
IT services provider Xand, which has operations in Marlborough, said it has secured more than $200 million in extra debt financing to help grow, with a significant portion of the money to be used for acquisitions and facility expansions.
Last year, Xand completed a series of major acquisitions, purchasing regional providers that included Access Northeast of Marlborough. The acquisitions increased the Hawthorne, N.Y.-based company’s service area to six data center facilities in four states — New York, Pennsylvania, Massachusetts and Connecticut.
“This financing is a resounding vote of confidence in Xand’s performance from our financial partners,” said Xand president and CEO Yatish Mishra. “The increase in available funds further bolsters our company’s strategic plan of investment, expansion and acquisition to meet the dramatic surge in demand for services from our customers in the Northeast market.”
Xand, which is majority owned by Boston-based private equity firm ABRY Partners, amended its financing arrangements with a consortium of industry-leading banking partners, arranged by TD Securities (USA) LLC and GE Capital Markets Inc.
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