Biz ‘Bite:’ DIF Capital Partners acquires Mountain West-based Tonaquint Data Centers

DIF Capital Partners, an independent infrastructure fund manager, has signed an agreement to acquire Tonaquint Data Centers, a data center provider in the Mountain West region with locations in Boise and St. George, Utah. The acquisition will enable Tonaquint to continue its growth, enhancing its existing facilities and expanding its service offering, according to a recent press release. Tonaquint offers a comprehensive set of critical infrastructure products and services, primarily servicing clients in the technology, health care, financial services and industrial sectors.

Given the rapid growth of the private cloud market, Tonaquint’s product offering is where the opportunities are, noted Willem Jansonius, partner and head of CIF at DIF Capital Partners.

“Now and in the years to come, or investment will enable Tonaquint to further build towards a leading North American data center platform,” Jansonius said. “The acquisition fits DIF’s ambition to further grow in the digital infrastructure space in North America and beyond by investing in small- to medium-sized businesses. That’s exactly why we already started expanding our capabilities and expertise in the sector a few years ago.”

Tonaquint’s goals will not change, according to Matt Hamlin, co-founder and CEO of Tonaquint.

“Working with the DIF team has been such a great experience,” Hamlin said in a statement. “A very experienced team and a good strategic fit as they will be able to help our management team grow Tonaquint as we have envisioned in our overall business strategy.”

Philip Daley, co-founder and COO of Tonaquint, added that Tonaquint’s ability to build and maintain quality data centers and cloud services are now enhanced by DIF’s ability to bring additional capital and expertise in digital infrastructure.

Bank Street Group LLC served as exclusive financial advisor to Tonaquint in connection with this transaction. Agentis Capital served as an exclusive financial advisor to DIF.