Data centre provider secures £3.15m investment to fund development of new site

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Custodian Data Centres, a company that provides data centre services to support business growth, has secured a £3.15m investment from alternative lender BOOST&Co to help develop its new data centre in Dartford. The business currently operates its flagship data centre in Kent and has been providing colocation, connectivity and cloud services to customers across the UK for the past ten years.

Due to open in Q2 2022, the new facility will be located less than 15 miles from central London and is being built to support Custodian’s growth, as its current facility nears capacity. The new centre will maintain the energy efficiency focus of Custodian’s flagship facility, using five times less energy per kW of IT load than the average data centre.

BOOST&Co has chosen to work with Custodian due to its position as an established business in a strong and growing market. The data centre provider has also experienced significant growth itself, fueled by increased demand for data centre space as a result of remote working and digital transformation programmes. The funding from BOOST&Co will enable Custodian to enhance revenue and cash flow and meet increased demand by doubling in size. 

BOOST&Co is a provider of growth capital for innovative, fast-growing UK SMEs. 

The independent asset manager offers flexible term loans, covering a wide range of sectors, with a strong track record in technology, media and telecommunications (TMT). It has funded more than £500m across more than 130 deals to date and provided close to £200m under the government’s CBILS initiative to support SMEs during Covid-19. 

Rowland Kinch, the chief executive at Custodian says: “This investment from BOOST&Co will enable us to complete the development of our second data centre and provide our services to many more customers. 

“This expansion will also allow us to meet the continued demand for data storage that we have witnessed throughout the pandemic and we are glad that BOOST&Co recognises the potential for growth and can help to support our vision”. 

Ryan Sorby, the head of the north and Scotland at BOOST&Co says: “The team at Custodian has already built a very strong business in a great sector, taking advantage of the increasing demand for its services. Our funding will help develop the firm’s new site at Dartford and enable Custodian to double in size during the next 24 months.” 

Dom Lillie of Knight Corporate Finance, which advised on the deal says: “We are delighted to have been able to assist Custodian with this fundraise, which will help the business achieve its ambitious growth plans over the months and years to come.

We have worked with Rowland and the team for a number of years and after introducing them to BOOST&Co it was clear that they were the right partner to fund the next stage of growth, as the new data centre goes live and the business aims to expand and introduce its next-generation of data centre solutions to customers”.

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