Data Centre Dynamics secures £2m from Barclays
Barclays has provided Data Centre Dynamics with a loan of £2million to support the growth of its trade show business, as well as providing on-going working capital facilities.
The founders of the business plan to use the loan for capital expenditure, including developing their online technology systems, a move to larger premises, employing more personnel to drive growth, and translating their bespoke training programmes into Chinese and Spanish.
Data Centre Dynamics is a full service B2B information provider, at the core of which is a unique series of events tailored to deliver knowledge and networking opportunities to data centre professionals. The business also produces a global trade magazine and training, in addition to its conferences and events. The fast-growing business, based in the City of London, has seen revenues grow to 18m since its launch in 1998.
Simon Banham, Chief Financial Officer at Data Centre Dynamics said: “We’re an extremely ambitious business with major growth plans for the future. Since its incorporation in 1998 the business has grown organically without raising debt or equity. We are embarking on our next stage of high growth and to facilitate this and capitalise on our unique position in the data centre market we sought the support of Barclays to provide the business a term loan facility. Barclays has been an important partner of ours since our launch and we’ll continue to draw on their expertise to help drive us forward in the marketplace.”
James Downing, Relationship Director in Barclays TMT team, added: “We have worked with Data Centre Dynamics since its inception and watched it go from strength to strength as it’s capitalised on the growth of the data centre sector. It’s a totally unique business and we’re focused on helping it move into the next phase of its development.”
For more information please contact:
Media Relations, Barclays Corporate
(D) +44 20 7116 6058
(M) +44 (0)7881 318455
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Barclays is a major global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management with an extensive international presence in Europe, the Americas, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 140,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide. For further information about Barclays, please visit our website www.barclays.com.