May 27, 2020

TierPoint- $320 Million

TierPoint

St. Louis, Mo.; 03/25/2020

Amount Funded: $320 Million

Type: Equity

Lead Investor: Argo Infrastructure Partners, Wafra, Macquarie Capital Principle Finance

Participating Investor(s):  Cequel III, Ontario Teachers’ Pension Plan, RedBird Capital Partners, The Stephens Group, Thompson Street Capital Partners

Company Description: “Meeting clients where they are on their journey to IT transformation, TierPoint is a leading 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. Led by a proven management team, TierPoint’s highly experienced 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.” – From the TierPoint website

What funding will be used for:  Repaying its second lien credit facility  in full, reduce balance outstanding in revolving credit facility, provide growth capital.

Quotes:

“This investment agreement was reached in what we all know is a very challenging environment. That’s a testament to the strong performance TierPoint has already achieved and our prospects for continued growth.”

-Jerry Kent, Chairman/CEO, TierPoint

Data provided by respective company (unless otherwise noted) and researched by StartupsOne for accuracy.

 

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