Cedar Rapids-based data center and services company Involta has agreed to be bought by the global investment firm Carlyle Group.
Involta has 12 data centers in Iowa, Ohio, Minnesota, Idaho and Arizona, and has 12,000 miles of its own fiber network in the US.
“We are thrilled to work with Carlyle’s proven investment team as we build on our national market leadership and support our customers’ growing digital infrastructure requirements,” said Bruce Lehrman, founder and CEO of Involta. “We see many logical opportunities to continue expanding Involta’s footprint and infrastructure, and look forward to leveraging Carlyle’s global resources and deep expertise to further accelerate our growth momentum.”
Carlyle will acquire Involta from M/C Partners. The transaction is expected to close in the first quarter of 2022.
“Involta has built a world-class platform with a demonstrated operating model for delivering high-quality service to customers in an increasingly complex, hybrid cloud-based world,” said Joshua Pang, head of digital infrastructure for Carlyle’s Infrastructure Group. “We see significant opportunity for growth given the long-term secular demand drivers of data proliferation, digital connectivity, and the digitization of enterprise and institutional operating models. We look forward to a strong, long-term partnership and to leveraging Carlyle’s scale, resources, and access to capital to drive sustainable growth at Involta.”
Financial terms of the deal were not disclosed.