The Telx Group, with large data centers in Clifton and Weehawken, announced Monday it has been sold from a California private investment firm to two Boston-based investment firms.
ABRY Partners and Berkshire Partners LLC will close on the purchase in mid-September, according to Telx CEO Eric Shepcaro. Shepcaro said he does not anticipate any changes to Telx’s “vision or strategy” due to the ownership change.
“Eric and the Telx management team have done an excellent job creating premier facilities for interconnection,” said Larry Hamelsky, managing director of Berkshire Partners, in a statement.
Shepcaro said Telx is looking forward to using the two firms’ extensive experience in data center and telecommunications investments to continue expanding the company beyond its current 15 centers. Currently, the company is adding another floor of space to the building in Clifton.
Under GI Partners, based in Menlo Park, Calif., Telx grew its revenue by 40 percent during the five years of ownership. Shepcaro called GI Partners “a terrific partner to expand our platform.”
Shepcaro said he anticipates announcing new expansion programs in New Jersey later in the third quarter and into the fourth quarter.
Financial details will not be released until the closing.