News & Newsletter

September 14, 2010
FiberMedia Announces Partnership with The Stephens Group & Cheverny Capital

FiberMedia Group, LLC announced today that it has finalized an equity investment by The Stephens Group, LLC, a Little Rock, Arkansas based private equity firm and Cheverny Capital, a merchant bank based in Montreal, Canada. This equity investment completes a majority recapitalization that positions the Company for the next stage of its growth.

Michael Bucheit is joining FiberMedia as President and will support Michael Roark, Founder and Chief Executive Officer, and his executive team in the continued development and execution of its multi-regional datacenter expansion strategy.

FiberMedia operates a number of data centers in the New York metro market and serves some of the largest and most sophisticated companies in the financial services, media, healthcare and information technology industries. These customers turn to FiberMedia for its network of highly resilient data centers and customized service offering to manage their mission-critical information technology infrastructure and data.

“FiberMedia’s team is very excited about the opportunity to support the significant growth needs of our continuously expanding customer base. We are grateful to have found long-term capital partners… who share our strategic vision and will enable us to grow while providing our customers with the highest quality facilities and services”, said Michael Roark, Founder and CEO of the Company.

“We believe that the datacenter industry is at the core of a fundamental shift in the enterprise market. The explosive growth of enterprise data, the proliferation of onerous industry-specific compliance requirements and the complexity and high cost of managing the required IT infrastructure are among many reasons why businesses of all sizes are seeking to partner with reliable and smart datacenter operators like FiberMedia. The Company’s operating track record, focus on customer service, and talented people position FiberMedia to successfully develop customer solutions across many geographic regions”, said Robert Covington, principal of The Stephens Group.

Cheverny Capital acted as financial advisor to and investor in FiberMedia Group, LLC.

About FiberMedia (www.fibermedia.net)

FiberMedia owns and operates a network of six data centers that comprise approximately 140,000 square feet of datacenter space. Colocation space, along with fully-managed datacenter operations are available within these secure, carrier-neutral facilities located in Manhattan, Brooklyn, Secaucus, Jersey City, Westchester and Cleveland. FiberMedia also provides turnkey data storage, business continuity & disaster recovery solutions as a safe and affordable alternative for their customers’ functional remote data center operations. For over 20 years, their design/build division has provided complete development services to create new custom-tailored new datacenter facilities. FiberMedia is a privately held company known for its innovation and customer responsiveness.

About The Stephens Group (www.stephensgroup.com)

The Stephens Group, LLC, is a private, family-owned firm that invests its capital in private and public companies with exceptional management teams and high returns on invested capital in growing industries. The principals of The Stephens Group have over 70 years of history in successfully investing in both minority and control positions across multiple industries. The Stephens Group, through its affiliates, has large positions in gas exploration and production, media, communications, consumer, manufacturing and other industries. The Stephens Group typically provides equity capital of $5 million to $75 million dollars per transaction and looks to invest $100-$200 million per year.

About Cheverny Capital (www.chevernycapital.com)

Cheverny Capital is a partner-owned, Montreal-based merchant bank. The firm has both an advisory practice (offering merger & acquisition, restructuring and capital raising services to growth companies) as well as a principal investing arm focused on sectors where the Cheverny team has particular industry insight and expertise. Cheverny was founded in 2009.