TierPoint Raises $320M in Funding

TierPoint, a St. Louis, MO-based provider of secure, connected data center and cloud solutions at the edge of the internet, reached an agreement that will result in new, preferred equity investments totaling $320m.

The company expects to close the round by mid-April.

The equity is led by a consortium of new investors including Argo Infrastructure Partners, Wafra, and Macquarie Capital Principal Finance. Existing investors – including Cequel III, Ontario Teachers’ Pension Plan, RedBird Capital Partners, The Stephens Group, and Thompson Street Capital Partners – will also participate.

Net proceeds, after transaction fees and expenses, will be used to repay the company’s second lien credit facility in full, reduce the balance outstanding under its revolving credit facility, and provide growth capital to accelerate continued growth.

Led by Chairman and CEO Jerry Kent, TierPoint is a provider of secure, connected data center and cloud solutions at the edge of the internet. The company has one of the largest customer bases in the industry, with thousands of clients ranging from the public to private sectors, from small businesses to Fortune 500 enterprises. TierPoint also a geographically diversified footprint with over 40 data centers in 20 markets and 8 multitenant cloud pods, connected by a coast-to-coast network. The company’s IT professionals offer a comprehensive solution portfolio of private, multitenant, managed hyperscale, and hybrid cloud, plus colocation, disaster recovery, security, and other managed IT services.



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