POSITION CHIEF FINANCIAL OFFICER
REPORTS TO Colin Clish, President
DATE February, 2024
MORE INFORMATION https://pointonecorp.com/
SEARCH CONTACT Andy Lane – CFS Partners

M          +1 414 807 4085
E          andy@criticalfacility.com

POINTONE OVERVIEW

Data Center Campuses – Infrastructure Ready

PointOne is a land and data center developer specializing in creating infrastructure-ready hyperscale data center sites and leveraging them into data center builds. They solve customers’ capacity planning challenges by making earlier investments in sites and shortening our customers’ time-to-market. PointOne ensures land is infrastructure-ready with appropriate zoning, master planning and utility infrastructure in place drastically reducing schedule and cost risk.

PointOne understands the deployment issues customers face and creates customized solutions to solve these issues, offering vetted land with planned utility infrastructure, scalability, and innovative data center design. PointOne campuses come retrofitted with power, water, and fiber requirements, minimizing time to market to deliver customized data center builds. Their team partners with customers to design build-to-suit facilities on vetted land and offers full turn-key data center solutions.

PointOne is engaged with Solomon Partners to find a long-term investment group to act as  a partner for:

  1. Development of initial three scalable data center sites in Northern and Central Virginia.
  2. Ongoing site selection and site acquisition efforts to scale the p

This investment group will allow PointOne to scale their internal team and build competitive supply chain, sustainability and operations programs and take the next step to grow from land developers to data center owner/operators.

 

HISTORY

Co-founders and Partners Colin Clish and Keith Frieser both have deep histories in real estate development and foresaw the asset class of data centers as highly viable and valuable. They recognized their capital markets expertise applied to industrial real estate development success could be applied to the growing state of data center development.

2017:               PointOne was founded by Colin Clish & Keith Frieser.

2018:               PointOne acquired land in Remington (234-acres; 400MW critical capacity).

2018:               PointOne acquired land in Virginia Beach, VA (11-acres).

2018:             PointOne took on family office partner, allowing PointOne to conduct required on-site diligence and pre-development work.

2019/2020:    Work on pre-development preparations for Remington and Virginia Beach sites.

2021:              PointOne began working on our site in Ashburn, VA (26-acres in Sterling, VA). The site is in the Dominion Energy power transmission issue area in Loudoun County, so alternative power solutions were explored.

2022:              On-going site work at Remington, Virginia Beach & Ashburn.

2023:              PointOne tied up lands for our Richmond campus (250-acres in Charles City County) and began conceptual planning.

PointOne has progressed diligently in the acquisition of new sites to develop and now have a portfolio of offerings of shovel ready campuses to offer to the market. They see the data center market as maturing broadly into secondary markets and are well positioned to capitalize on their plans.

CHAPTER

PointOne chose their original sites with the theory that the market in Virginia would move further into central and southern Virginia as power constraints impacted Northern Virginia. This thesis was in fact correct and is coming to fruition. PointOne is leveraging their existing three sites (Ashburn, Remington, and Richmond) to launch a build to suit platform and are actively looking to acquire additional sites and begin the early pre-development process on those sites.

These market dynamics focus on access to high voltage power are occurring in all Tier 1 markets in the near to mid-term. PointOne leveraged their ability to identify and develop sites early and has evolved to a trusted turn-key developer. PointOne aims to streamline the data center development process from site identification to build-out, giving clients a competitive edge in speed to market in offering capacity.

 

CHARTER

PointOne specializes in developing infrastructure-ready sites, allowing customers to rapidly scale their deployment. Characteristics include –

– Long-lead development work underway
– Zoning, permitting, community engagement.
– Established utility and alternative power options.
– Vetted network connectivity options.
– Advanced diligence work

PointOne offers:

  1. Vetted Land: PointOne offers vetted land with the utility infrastructure and scalability required for data center development, allowing customers to mitigate the risk of land acquisition.
  2. Build-To-Suit: PointOne is dedicated to delivering data center solutions that best meet customer’s evolving needs, with a preference for build-to-suit options. PointOne may be open to powered shells on certain sites moving forward.
  3. Customized Solutions: Retaining flexibility to create customized solutions to solve customer’s deployment issues is a core tenant of PointOne’s business plan.

PointOne is foundationally positioned and poised for growth. With the addition of a few strategic executive hires the rate of success for leasing and new campus developments are expected to ramp up dramatically. PointOne is on the precipice of dramatic success, having positioned themselves in this market having solved the most pressing demands of their target market – available capacity with power.

CURRENT PORTFOLIO

PointOne’s current portfolio includes over 500-acres (and almost 1GW of leasable capacity) across 3 hyperscale campuses across Virginia, USA.

FEATURED PROJECTS

ASHBURN CAMPUS – Data Center Alley

26 Acres : Scalable to 108MW across 2 buildings
Buildings will be between 2-4 stories
Ability to build up 650,000 SF
Currently completing conceptual design
6-year project duration

REMINGTON TECHNOLOGY PARK

234 Acres : Scalable to 440MW
50MW of Immediately available power
Shovel-ready for immediate construction
5 -7 year project duration
Customizable design and campus master planning
Multiple fiber providers running or adjacent to the site
Potential for large scale renewable generation

RTP Spec Sheet

RTP Video Presentation

RICHMOND CAMPUS

250 Acres : Scalable to 440MW
Proximity to E. Richmond Meta & QTS Campuses
Completing Pre-Development Work
5 – 7 year project duration
Site segmented into individual parcels for BTS data centers
On-site substations planned for up to 440MW of leasable capacity

Moving forward, site selection focuses on Tier 1 adjacent markets and aim to bank footprints (~200-300MW each) into 5-7 markets across North America.

LEADERSHIP TEAM

 

COLIN CLISH

President

LinkedIn Profile

 

KEITH FRIESER

Partner

LinkedIn Profile

 

KRIS KEENEY

Chief Legal Officer & SVP

LinkedIn Profile

 

DON POLLARD

Director of Development

 

DEVIN CLEAVER

Director of Development

LinkedIn Profile

 

KELSEY FEHR

Director of Corporate Development

LinkedIn Profile

FINANCIAL PARTNER

PointOne is engaged with Solomon Partners (https://solomonpartners.com) to complete a financing raise to support our initial three projects and long-term growth. We are currently finalizing materials with the aim of going to market at the end of March 2024. Based on campus development leasing traction and pipeline, PointOne has its sights firmly set on a macro goal of a multibillion-dollar value creation.

Initial funding has been provided by family office capital. Further details related to the family office, balance sheet, and capital raise status and plans will be made available to candidate’s contingent on mutual agreement to proceed following initial conversations with Colin Clish.

CHIEF FINANCIAL OFFICER

In close coordination with PointOne’s Senior Leadership Team (SLT), the CFO will proactively advocate for, create, and protect stakeholder equity value through strategic investments, financial management, corporate development, and executive leadership. The CFO will accelerate PointOne’s value creation and performance through effective strategy and execution affecting the business model, strategic planning, capital raise, market positioning, risk management, and M&A.

The CFO will foster a culture of accountability and innovation in a high growth environment while building a high-performing organization to support PointOne’s existing and future data center campus development and leasing initiatives.  The ideal candidate must be well-versed in all aspects of financial management to include Financial Management, Corporate Development, and Leadership –

Financial Management

– Manage capital structure and fundraising initiatives and perform risk management through analysis of company liabilities and investments.
– Advise the President and the Board of Directors on strategic finance that meets the needs of the company and its ownership.
– Distill, interpret, and manage financial information to identify both positive and negative trending and provide supportive insights to the SLT, President, & Board
– Partner with the SLT to develop and implement short and long-range financial objectives, plans, budget, and forecast based on agreed performance targets.
– Ensure cash flow is compatible with operations by managing a team that oversees day-to-day accounting, recording, reporting, and internal-control activities of the organization.
– Comply with national and local financial requirements by studying existing and new legislation and taking appropriate action.
– Continuously appraise the organization’s financial position and offer dynamic interpretation and forward-thinking scenario analysis
– Manage risk and ensure financial process integrity is maintained
– Measure, analyze, and help interpret financial information and prioritize multiple weights and measures to determine and justify appropriate resource allocation
– Identify continuous improvement opportunities to enhance existing financial structure and processes ensuring sound internal controls and financial decision making
– Preparation and issuance of timely and accurate financial statements and related filings
– Establish and maintain strong relationships with external service providers (banks, investors, auditors, legal, etc.)
– Oversee corporate income tax planning and compliance

Corporate Development

– Lead corporate development activities including identifying partnership opportunities, driving the assessment and due diligence process, and structuring transactions
– Develop, evaluate, and analyze the financial impact of transactions including financing strategies, joint ventures, and acquisitions
-Prepare business plans for new campus development initiatives, including industry and competitive analyses, and monitor and benchmark those launched
– Support the SLT and Managers in preparation and management of strategic plans and budget proposals with related financial information and resources.
-Research revenue opportunities and economic trends, analyze internal operations, and identify areas for cost reduction and process enhancement
– Coordinate development of annual operating, capital, and program budgets, as well as reporting for the same
– Monitor business performance with tracking tools, establish corrective measures as needed, and prepare detailed reports for all stakeholders
– Oversee the building of financial models, conduct due diligence, negotiate deal terms, draft presentation, and secure financing for joint ventures and/or acquisitions
– Coordinate internal and external resources for M&A transactions
– Ensure best practices for a controlled yet flexible organization that has strong fiscal management, project coordination, cross-team communications, and workflows.

 Leadership

– Provide direction to Accounting and Finance responsible for all cash management, investments, insurance, budgeting, and financial reporting
– Work with the SLT to build collaborative and integrated performance objectives and incentivize positive behaviors to achieve targets
– Manage finance personnel and oversee financial IT systems, ensuring compliance with relevant regulatory entities (ex: Internal Revenue Service, etc.)
– Embraces and is most effective in a dynamic, creative, entrepreneurial environment
– Proactive self-starter with “roll up your sleeves” lead by example style with the ability to shift gears when necessary and work autonomously
– Broadly collaborating member of the SLT who initiates, monitors, and engages all aspects of the company’s performance into a unified and aligned charter
– Direct, candid, apolitical presentations to internal and external audiences including employees, SLT, Board, and other investors and stakeholders
– Clear impassioned vision of how to package PointOne’s core strengths and unique competitive advantages to the capital markets to embolden sustained value creation

SKILLS & EXPERIENCE REQUIREMENTS

– Proven track record of strategic financial management leadership with a sponsor backed (PE, Fund, Family Office, etc.), highly entrepreneurial, high growth, progressive technology company with a matrix of product and service offerings
– Demonstrated strategic capital markets experience with history of developing trusted partnerships with both debt and equity providers
– Knowledge of corporate finance and tax laws, policies, and risk management practices.
– Experience in a growth environment, including opportunity identification, analysis, and execution of joint venture and/or M&A transactions
– Demonstrated experience leading the strategic planning and corporate development processes which have steered the organization toward success and away from risk
– Analytical skills to determine profit levels from disparate services lines, drive costs from the business, and improve overall productivity as points of differentiation in the marketplace
– Management of a comprehensive, full-function corporate financial organization to include accounting, data analysis, forecasting, reporting, strategic planning, and compliance
– A team orientation with broad credibility capable of consistently motivating the PointOne team toward timely, actionable, purposeful tasks
– Superior critical thinking and quantitative abilities relating to use of GAAP principals, financial management software, and other business efficiency related technologies
– Resourceful and performance-driven, motivated to provide timely, identifiable, and measurable results
– Candid, articulate, apolitical, and dynamic in front of both internal and external audiences including employees, SLT, Board, Advisors, and investors

KEY QUALIFYING CRITERIA

Strategic Contributor – The CFO is expected to possess an earnest, courageous, and impactful executive disposition whereby their collaboration on the business model and performance results in extraordinary corporate valuations.  

Event History – Demonstrated success preparing for and leading a digital infrastructure product and service solutions technology company through a strategic event – strategic acquisition, recapitalization, or IPO.

Invested Environment – Ability to negotiate and support complex capital instruments, deliver on the Board’s requirements for performance forecasting and reporting, and succinctly articulate business case analysis to support decisions.

M&A – Demonstrated capital markets experience, knowledge, and relationships to identify, engage, and maximize realized and unrealized strategic opportunities in the market which lead to outperforming returns and value creation.

Financial Leadership – Demonstrated command of a broad set of operational responsibilities of traditional finance management along with the value add of data center real estate development specific knowledge.

Growth – Effective leadership, conviction, and courageous decision making at scale in a high growth environment.

 

 WHY CONSIDER THIS OPPORTUNITY?

Chapter – The market is rife, and the table is set for an accomplished CFO to apply their formidable skills to a healthy and established business at its growth inflection point.

Impact – The CFO will put their fingerprint on a transformative business, impacting every stakeholder, from investors, to customers, partners, and employees.

Leadership – PointOne’s leadership credentials represent an attractive and impressive collegial environment to achieve their value growth plan. The SLT and Board are excited and convicted about their near term and future achievements together.

Culture – Effective performance in a formative growth chapter organization requires every member to possess pride of ownership, ambition, and conviction. Candor and transparency of communication at all levels is paramount.

Financial Strength – PointOne’s founders and partners have an extraordinary track record of identifying value, positioning themselves in the right market at the right time, and ensuring enduring success for leadership and employees.

Investment Partners – PointOne’s investment partners and Board members bring both credibility and experience necessary to effectively navigate the capital markets to identify the most productive financial partners to support future growth.

 

COMPENSATION

Compensation for the CFO is comprised of a competitive base salary, an annual performance bonus, equity / profit sharing, and extensive benefits package to include –

  • Extended healthcare and dental plan / Unlimited Paid Time Off / Health & Wellness annual benefit / Corporate Gift Matching / 2 paid days off for volunteering / Hybrid work option / Life Insurance / 401k

The CFO is expected to dramatically impact the entire team’s earnings opportunity by virtue of their strategic performance raising capital, leveraging partnerships, managing risk, and ensuring operational efficiencies.

 

SEARCH PROCESS

Following a thorough exchange of company information, resume, and key qualifying criteria, CFS Partners anticipates recommending a short list of candidates to Colin Clish, President. Select finalists will have the opportunity to review additional information under NDA in order to prepare questions and present their strategic perspective. Upon mutual decision to proceed, we’ll connect finalists with additional members of the Senior Leadership Team and Board. A finalist will be selected and offer extended, the acceptance of which will be contingent upon positive references and background check.

For additional information or to schedule a time to connect, contact Andy Lane, Managing Partner at andy@criticalfacility.com.