The ongoing wave of data center acquisitions is enabling the industry’s big players to get even bigger. Ken Parent believes this trend creates opportunities for smaller providers.
“The choices are really dwindling,” said Parent, the CEO of the newly-rebranded Element Critical. “We live in a world where one size doesn’t fit all, and the combination of data center elements change more frequently than ever before.”
Element Critical, previously known as Central Colo, is an expansion-minded data center provider backed by global investment firm Safanad Capital and San Francisco private equity firm Industry Capital. Parent, who was previously CEO of ByteGrid, sees the opportunity to build a national platform of data centers by using a sale/leaseback strategy to buy facilities with existing tenants and available expansion space.
The company currently operates just two data centers. But Parent says Element Critical hopes to acquire up to $1 billion of data centers. “We’re going to acquire at least one more asset this year,” he said. “We’ve been building out our team and platform for a number of months. We want people to know we’re here.”
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