New York, NY – December 1, 2015 – Seaport Capital, a private equity firm focused on investments in communications, information and business services companies, announced the sale of its portfolio company, Net Access, to Cologix, Inc. Net Access is a leading provider of data center and workspace recovery services in the Northern New Jersey and Metro New York market. Cologix, Inc. is a network neutral interconnection and data center company operating 24 data centers in 9 markets post the Net Access transaction.
Seaport invested in Net Access in July 2012, purchasing a majority stake in the company from Blake Ellman and Alex Rubenstein, the founders of Net Access. Over the course of the next three years, Seaport worked with the company to increase its data center capacity, add to its managed services offering, and expand the management team. Net Access more than doubled its annualized EBITDA during Seaport’s investment period.
“From a founder’s perspective, partnering with Seaport Capital allowed Alex and me to gain initial liquidity and bring in the resources necessary to expand the business while participating in the additional value creation,” said Blake Ellman.
Alex Rubenstein added, “Seaport brought industry knowledge, capital, and management resources that allowed me to focus on expanding the Net Access data center capabilities. I am extremely proud of the transformation the company made over the last three years.”
“Our collaboration with Blake, Alex, and the Net Access team resulted in a company with greater scale, broader capabilities, and deeper management which led to a successful outcome” said Jim Collis, Partner at Seaport Capital. “Raul Martynek, CEO of Net Access, who Seaport backed for the second time, and the management team built a strong business that is well positioned for further growth.”
“I enjoyed working with Seaport Capital over the past two years,” commented Raul Martynek, CEO of Net Access. “Their experience and guidance was invaluable to the company and contributed to our impressive growth.”
Seaport Capital invests in private companies with market capitalizations between $10 and $100 million. We work with talented management teams to create valuable companies that are leaders in their market segments. We are long-term investors focused on generating high investment multiples for our investment partners and our portfolio company management teams. Our substantial industry expertise and extensive investing experience enable us to develop winning strategies; our relationships and resources help achieve them.