DDocket
Meridian Digital Infrastructure III · opened 2026-06-02

North American colocation roll-up

Founder-owned regional colocation operators, 3–25 MW of installed critical IT load, in secondary US metros where a hyperscaler has not yet set the land price.

This page is the only written statement of what a target is. Correct it here and the agents change with it: the questions below are rendered into the Scout prompt, required by the validator, and re-asked of every company on the register. Nothing on this page lives in code.

Triage5 questions

Resolves identity before a dollar of research is spent.

Scout20 questions

Answers the mandate's questions as typed values, each quoting a retained page.

Audit1 questions

Re-reads with every fetch tool denied. Strikes anything unquotable.

Disqualifiers

A verdict, not a score. Triage asks these first and a company that answers one of them costs nothing further.

RuleReason kept with the record
ownership.structure=public_companyListed parent — no proprietary path
ownership.structure=reit_ownedREIT-owned — the asset is the trade, not the operator
assessment.company_type=hyperscalerHyperscale operator — out of mandate
assessment.company_type=brokerBroker or reseller — no owned capacity
assessment.company_type=carrierCarrier with incidental colocation
geography.majority_us=noMajority of capacity outside the United States

What the score counts

Eight boxes, 100 points. A missing answer scores nothing and sorts the record below one that answered — it is never treated as a soft yes.

Ownership20 ptsFounder, family or management owned scores full. Sponsor-backed scores half. A public parent or a REIT is a disqualifier, not a score.
Critical IT load20 pts3–25 MW installed is the band. Under 1 MW is a single room; over 60 MW is a wholesale platform that will not clear at our multiple.
Facilities15 pts2–6 operating sites. One site is a single point of failure in diligence; more than eight is a platform, not a tuck-in.
Geography10 ptsSecondary US metros score highest. Primary markets (Ashburn, Santa Clara, Dallas) are priced. Non-US is out of mandate.
Interconnection10 ptsCarrier-neutral with 8+ carriers on net, or a resident internet exchange. A single-carrier building is a real-estate deal.
Customer mix10 ptsEnterprise colocation majority. Wholesale hyperscale concentration is a customer-concentration risk we price down.
Real estate10 ptsOwning the freehold scores full: it is the collateral. A shell lease with under 7 years left scores zero.
Acquisition history5 ptsA company that has bought before has a data room, a QoE and a seller who has been through it.

The questions

Each question has a fixed list of allowed answers. The agent picks from the list and quotes the sentence it read; it never writes a sentence for something else to interpret later. When an agent reaches for other more than twice in a hundred runs, the list is short a value and we add it.

Legal entityidentity.legal_entityTriageaudit · quote

The registered name on the state filing, not the trading name on the website.

Website confirmedidentity.website_confirmedTriageaudit · consistent

The site belongs to this company and not to a parent, an acquirer or a same-named business.

confirmedparent siterejectedunreachable
LinkedIn pageidentity.linkedin_pageTriageaudit · consistent

The page whose employee count we will trust. A headcount from an unconfirmed page counts for nothing.

provider matchedmodel confirmedrejectednot found
Company typeassessment.company_typeTriageaudit · quote

What the business actually is, from the fixed list. `other` above 2% of runs means the vocabulary ran out.

datacenter operatorcolocation mspedge operatorcarrier hotelwholesale developermanaged hostingcarrierhyperscalerreitbrokerother
Ownership structureownership.structureScoutaudit · quote

Who owns the equity today. Stated at any date, or presumed where a founder or long-standing chief still runs a privately held company.

founder ownedfamily ownedmanagement ownedemployee ownedprivate equity backedpublic companysubsidiaryreit owned
Principalownership.principalScout · deepaudit · quote

The named owner or long-standing chief, with the sentence that says so.

Principal tenureownership.tenure_yearsScout · deepaudit · consistent

Years in post. Twenty years and no successor is the single best-correlated signal in this mandate.

numeric · years
Operating facilitiesfacilities.countScoutaudit · quote

Datacenters in service under this company's operating control. Announced and under-construction sites are a separate fact.

numeric · sites
Metrosfacilities.metrosScoutaudit · quote

Each metro with an operating facility, from the company's own locations page.

Majority USgeography.majority_usTriageaudit · consistent

Is the majority of installed capacity in the United States.

yesno
Critical IT loadpower.critical_it_load_mwScoutaudit · quote

Installed critical IT load across operating facilities, in megawatts. Never the utility feed, never the announced build-out.

numeric · MW
Power redundancypower.redundancyScout · deepaudit · quote

The design the company publishes for its flagship site.

nn plus 12n2n plus 1not stated
Raised floorspace.raised_floor_sqftScoutaudit · quote

Operating white space in square feet, excluding office and shell.

numeric · sq ft
Uptime tiercertification.uptime_tierScoutaudit · quote

A certification, not a marketing claim. `tier_iii_claimed` is what the site says; `tier_iii_certified` is what the Institute lists.

tier iitier iii claimedtier iii certifiedtier iv certifiednone stated
Attestationscompliance.attestationsScoutaudit · quote

Every attestation the company names on its own compliance page, each with the page that names it.

soc 2 type 2soc 1 type 2hipaapci dssiso 27001fedramp moderatenist 800 171hitrust
Primary segmentcustomers.primary_segmentScoutaudit · quote

Where the majority of revenue sits, as the company describes its own book.

enterprise colocationwholesale hyperscaleedge regionalmanaged hostingfederal governmentcarrier neutral hotelhealthcare verticalfinancial services
Customer concentrationcustomers.concentrationScout · deepaudit · absence

Any named customer described as a material share of capacity. Absence is an answer here and is filed as one.

Carriers on netinterconnection.carrier_countScoutaudit · quote

Distinct carriers the company lists as available in its facilities.

numeric · carriers
Exchange presenceinterconnection.exchangeScout · deepaudit · quote

A resident internet exchange or a named cloud on-ramp.

resident ixremote peeringcloud onramp onlynone found
Real-estate tenurerealestate.tenureScout · deepaudit · quote

Whether the operator owns the building it runs. The collateral question.

owns freeholdground leaseleases shellmixednot found
Servicesservices.offeredScoutaudit · quote

A service with evidence at the served tier — a dedicated page, a price page, a case study. A service the site merely names is a mention, not a service.

colocationcross connectremote handsbare metalprivate cloudcloud onrampdisaster recoverymanaged backupnetwork transitbuild to suit
Headcountsize.headcountScoutaudit · consistent

The employee count associated with the confirmed LinkedIn page. Never an administrator size range.

numeric · people
Revenuefinancials.revenue_usdScout · deepaudit · absence

Only where the company or a filing states it. Estimates are not claims; a not-found stands six months.

Prior acquisitionshistory.prior_acquisitionsScout · deepaudit · quote

Acquisitions this company made, each with the announcement. A company that bought this company is a different fact.

numeric · deals
Capital eventshistory.capital_eventsScout · deepaudit · absence

Any raise, recapitalisation or sponsor investment on the record.

Succession signalassessment.succession_signalAuditaudit · quote

Anything on the record that speaks to a principal's horizon: age, tenure, a stated intention, a hired banker.

stated intentlong tenure no successorrecent cfo hireadvisor engagednone found