TierPoint Raises $320 Million from Consortium of Investors

TierPoint has reached an agreement that will result in new, preferred equity investments totaling $320 million, which the company expects to be closed and funded by mid-April.

The $320 million of preferred equity is 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—will also participate.

Net proceeds, after transaction fees and expenses, 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 fuel TierPoint’s continued momentum.

 

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