(Ping! Zine Web Hosting Magazine) – Steadfast, a leading provider of private and public cloud hosting, colocation, disaster recovery and managed services, has successfully completed $4.1m in debt financing through Wintrust Bank and DH Capital.
The financing agreement will help propel long-term growth for Steadfast and demonstrates the company’s steady success over the last 17 years; the company is focused on continued growth, including the expansion of large-scale enterprise private cloud and managed server deployments. Steadfast CEO, Karl Zimmerman, and Controller, Paul Voswinkel, lead the Steadfast team, collaborating closely with Wintrust and DH Capital.
DH Capital has been involved in financing the growth of dozens of companies in the IT infrastructure space including SoftLayer, Cervalis, and DataPipe. “It is wonderful to work with this high level of industry and finance expertise that we can utilize to help manage our growth,” said Zimmerman.
Wintrust has provided senior financing and a full banking relationship. “We are very excited to have solidified our banking partnership with Steadfast Networks. We’ve enjoyed working with Karl Zimmerman and Paul Voswinkel to finalize $3.1MM of senior financing to support the company’s long-term goals, and we look forward to our continued relationship,” said Assistant Vice President of Wintrust Commercial Banking Daniel Marino.
“We are very pleased to have assisted Steadfast with this transaction, the team at Steadfast has built a premier company in the sector, delivering a range of cloud, managed and colocation services. We look forward to continued success at the company,” said Dean Mann, Partner at DH Capital.
“Steadfast has established itself as the leading provider of managed infrastructure, cloud and datacenter services, we enjoyed working with the company in arranging the financing, and are excited about the company’s next steps,” said Marty Friedman, Partner at DH Capital.
Founded in 1998, Steadfast is a Chicago-based IT infrastructure provider with fully redundant data centers in Chicago and Edison, New Jersey. Steadfast’s services include managed cloud hosting, dedicated servers, colocation, hybrid hosting, and disaster recovery services. These services are all highly customizable, designed to give customers maximum flexibility. By combining services, enterprises can create unique infrastructures tailored to specific requirements. Steadfast’s customers include organizations of all sizes, from small and medium businesses with single cloud hosting accounts, to larger companies with multi-gigabit setups. Steadfast prides itself on its “Always there” philosophy, with comprehensive managed services and support.