TierPoint, a St. Louis-based provider of secure, connected data center and cloud solutions at the edge of the internet, closed preferred equity investments totaling $320m.
The round was led by a consortium of new investors: 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 – also participated.
Net of transaction fees and expenses, equity proceeds will be used to repay TierPoint’s second lien credit facility in full, reduce the balance outstanding under the company’s revolving credit facility, and provide growth capital to accelerate growth.
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 has one of the largest and most geographically diversified footprints in the nation, with over 40 world-class data centers in 20 markets and 8 multitenant cloud pods, connected by a coast-to-coast network. Its 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.