Dallas-based data center company DataBank just tapped a new chief financial officer as its president and CFO prepares to assume the CEO role.

Ben Lowe, the new CFO, succeeds Kevin Ooley, who joined DataBank in 2011 as CFO and added president to his responsibilities in 2017. Ooley will become CEO on Jan. 1, 2027. He will replace CEO Raul Martynek, who’s making a planned transition to executive chairman.

Lowe comes to DataBank from Radius Global Infrastructure, a telecommunications and digital infrastructure investment company based in suburban Philadelphia. He most recently was Radius’ CFO. Before that, he was senior vice president of corporate finance and treasurer at Houston-based Crown Castle, which owns and operates a U.S. network of wireless towers.

“Ben possesses a mix of industry knowledge, financial acumen and capital markets experience that will be incredibly valuable for DataBank as we enter this next chapter,” Ooley said in a statement. “His proven ability to access both public and private markets and his track record of synthesizing capital with strategy will be critical as we navigate this next phase of evolution.”

‘Next era of growth’

Lowe joins DataBank at a critical juncture for the company and the industry.

“DataBank’s U.S. data center infrastructure footprint is unparalleled, and the company has a rich history of building long-term relationships with customers and capital markets alike,” Lowe said in a statement. “This is an incredible platform and track record upon which to chart the next era of growth, and I’m incredibly excited to be joining at such a monumental time.”

Martynek praised Lowe and Ooley as the right leaders “to champion DataBank’s next phase of growth.”

Lowe and Ooley are stepping into their new roles as the data center industry explodes. A recent forecast from Grand View Research estimates the U.S. data center market will grow from $126 billion in 2025 to nearly $276.5 billion by 2033.

Growth mode

DataBank, named to the Inc. 5000 list of the country’s fastest-growing private companies in 2024, continues to expand to accommodate greater demand for data centers. DataBank made the list by recording a three-year revenue growth rate of 206%.

Today, the company operates more than 70 data centers in over 25 markets, with more data centers on the way.

In June, the company closed $1.45 billion in financing to fuel growth. The financing package consists of an $800 million revolving credit facility and a $650 million upsizing of a $2 billion loan for construction of DataBank’s data center campus in Red Oak.

In April, the company announced a joint venture with Australia’s Goodman Group to develop a 32-megawatt data center in the Los Angeles area.

Last year, DataBank made headlines for giving nearly 1,000 of its employees part ownership of the company. The DataBank Employee Ownership Program offers a one-time bonus of up to 12 months’ compensation in addition to salary and benefits if the company completes a qualifying transaction.