TierPoint Closes $320 Million Equity Round of Financing led by a Consortium of New Investors

Net of transaction fees and expenses, and the proceeds of this equity financing round 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 catalyze growth

Fremont, CA: TierPoint, a St. Louis-based provider of secure, connected data center and cloud solutions at the edge of the internet, has closed a $320 million preferred equity round of financing. The funding was led by a consortium of new investors, including Argo Infrastructure Partners, Macquarie Capital Principal Finance, and Wafra. Existing investors – including Cequel III, Ontario Teachers’ Pension Plan, The Stephens Group, RedBird Capital Partners, and Thompson Street Capital Partners have also marked their presence at the event.

Net of transaction fees and expenses, and the proceeds of this equity financing round 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 catalyze growth.

Fawaz Al-Mubaraki, Chief Executive Officer of Wafra, commented in the past: "Jerry Kent and the TierPoint senior management team have proven themselves as leaders in the digital infrastructure sector, and we are excited to partner with the TierPoint team to help fund the company's next phase of growth. TierPoint is well positioned for robust growth that will allow the company to expand its market-leading position and capitalize on the tailwinds supporting the data center industry."

TierPoint 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 the industry reigning giants. 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 eight 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.

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