Joele Frank is handling Cyxtera as it hammers out a restructuring support agreement with lenders that will pump $50M in new financing into the Miami-based colocation and data interconnections services company.

CEO Nelson Fonseca said the revamp strengthens Cyxtera’s financial structure and positions it for long-term growth.

The RSA also provides Cyxtera a process to pursue the potential sale of the company or woo additional investors.

In the event that Cyxtera fails to arrange a third-party transaction, it will seek Chapter 11 protection.

The company reported a 7.8 percent rise in Q1 revenues to $196.7M. Its $325.4M net loss, includes a non-cash impairment charge of $278.2M.

Joele Frank, Wilkinson Brimmer Katcher’s Aaron Palash and Meaghan Repko represent Cyxtera.