{"id":3881,"date":"2020-04-20T12:39:16","date_gmt":"2020-04-20T16:39:16","guid":{"rendered":"https:\/\/solutionsreview.com\/backup-disaster-recovery\/?p=3881"},"modified":"2020-04-20T12:39:30","modified_gmt":"2020-04-20T16:39:30","slug":"tierpoint-closes-320-million-in-equity-from-group-of-investors","status":"publish","type":"post","link":"https:\/\/solutionsreview.com\/backup-disaster-recovery\/tierpoint-closes-320-million-in-equity-from-group-of-investors\/","title":{"rendered":"TierPoint Closes $320 Million in Equity from Group of Investors"},"content":{"rendered":"<p style=\"text-align: justify\"><span style=\"font-weight: 400\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-3835\" src=\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/files\/2020\/03\/TierPoint-Earns-320-Million-From-Team-of-Investors.jpg\" alt=\"TierPoint Closes $320 Million in Equity from Group of Investors\" width=\"800\" height=\"400\" \/>TierPoint <\/span><a href=\"https:\/\/www.tierpoint.com\/tierpoint-closes-320-million-in-equity-from-consortium-of-investors\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">has officially<\/span><\/a><span style=\"font-weight: 400\"> closed previously announced transactions, resulting in preferred equity investments totaling $320 million. This $320 million of preferred equity was led by a consortium of new investors including Argo Infrastructure Partners, Wafra, and Macquarie Captial Principal Finance. Existing investors such as Cequel III, Ontario Teacher\u2019s Pension Plan, RedBird Capital Partners, The Stephens Group, and Thompson Street Capital Partners also participated.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\"><div class=\"box box3\"><\/span><span style=\"font-weight: 400;color: #000000\">Our<\/span> <a href=\"https:\/\/bit.ly\/2GkGfhp\" target=\"_blank\" rel=\"noopener noreferrer\"><i><span style=\"font-weight: 400\">Buyer\u2019s Guide for Backup and Disaster Recovery<\/span><\/i><\/a> <span style=\"font-weight: 400;color: #000000\">helps you evaluate the best solution for your use case and features profiles of the leading providers, as well as a category overview of the marketplace.<\/span><span style=\"font-weight: 400\"><\/div><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">This past year, <\/span><a href=\"https:\/\/www.tierpoint.com\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">TierPoint<\/span><\/a> <a href=\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/tierpoint-launches-cloud-to-cloud-recovery-powered-by-nutanix\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">released<\/span><\/a><span style=\"font-weight: 400\"> Cloud to Cloud Recovery powered by <\/span><a href=\"https:\/\/www.nutanix.com\/en\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">Nutanix<\/span><\/a><span style=\"font-weight: 400\">. This new service provides a cost-effective method to leverage Nutanix technologies for replication and disaster recovery orchestration with a TierPoint-managed Hosted Private Cloud in the recovery environment. The provider\u2019s Disaster Recovery as a Service combines features such as replication, cloud, and virtualization technologies, delivering a comprehensive solution that provides the capabilities needed to ensure critical data and applications are safe and secure. The vendor also owns over 40 data centers within 20 markets and 8 multi-tenant cloud pods, all connected via a coast-to-coast network.\u00a0<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">Net of transaction fees and expenses, equity proceeds will be used to repay TierPoint\u2019s second lien credit facility in full, provide growth capital to fuel TierPoint\u2019s continued momentum, and reduce the balance outstanding under the provider\u2019s revolving credit facility. Additionally, Citi and DH Capital served as financial advisors to TierPoint in the equity transactions and Goldman Sachs advised RedBird Capital.\u00a0<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">Regarding this agreement, TierPoint\u2019s Chairman and CEO, Jerry Kent previously said, \u201c<\/span><span style=\"font-weight: 400\">this <\/span><span style=\"font-weight: 400\">investment agreement was reached in what we all know is a very challenging environment. That\u2019s a testament to the strong performance TierPoint has already achieved and our prospects for continued growth. Our business has tremendous momentum. In the last two years, we\u2019ve increased sales bookings by 26 percent and the first quarter of 2020 will be another outstanding growth period.\u00a0<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">Our team of world-class technology professionals are diligently focused on providing exceptional client service, with a compelling hybrid IT strategy and comprehensive suite of market-leading infrastructure solutions that are in high demand. We\u2019re also in a unique position to help our customers navigate the current crisis. We have a very strong balance sheet, with significantly reduced leverage and improved liquidity, an infusion of growth capital, and we believe, a long runway of growth ahead of us, as we continue to invest in our services, infrastructure, and people.\u201d<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">Learn more about <\/span><a href=\"https:\/\/solutionsreview.com\/cloud-platforms\/tierpoint-releases-hosted-private-cloud-services\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">TierPoint.<\/span><\/a><\/p>\n<p style=\"text-align: justify\"><div class=\"hr hr\"><\/div><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\"><div class=\"widget\"><div class=\"aside-card\">\t\t\t<div class=\"textwidget\"><p><a class=\"speedbump-3\" href=\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/get-free-disaster-recovery-service-buyers-guide\/\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-1682\" title=\"DRaaS Buyer's Guide\" src=\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/files\/2020\/02\/DRaaS_SB_BG_800.gif\" alt=\"Download Link to DRaaS Buyer's Guide\" width=\"800\" height=\"100\" \/><\/a><\/p>\n<\/div>\n\t\t<\/div><\/div><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TierPoint has officially closed previously announced transactions, resulting in preferred equity investments totaling $320 million. This $320 million of preferred equity was led by a consortium of new investors including Argo Infrastructure Partners, Wafra, and Macquarie Captial Principal Finance. Existing investors such as Cequel III, Ontario Teacher\u2019s Pension Plan, RedBird Capital Partners, The Stephens Group, [&hellip;]<\/p>\n","protected":false},"author":43,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[3],"tags":[421,387],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TierPoint Closes $320 Million in Equity from Group of Investors<\/title>\n<meta name=\"description\" content=\"TierPoint has officially closed previously announced transactions, resulting in preferred equity investments totaling $320 million.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/tierpoint-closes-320-million-in-equity-from-group-of-investors\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tess Hanna\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/tierpoint-closes-320-million-in-equity-from-group-of-investors\/\",\"url\":\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/tierpoint-closes-320-million-in-equity-from-group-of-investors\/\",\"name\":\"TierPoint Closes $320 Million in Equity from Group of Investors\",\"isPartOf\":{\"@id\":\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/tierpoint-closes-320-million-in-equity-from-group-of-investors\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/tierpoint-closes-320-million-in-equity-from-group-of-investors\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/files\/2020\/03\/TierPoint-Earns-320-Million-From-Team-of-Investors.jpg\",\"datePublished\":\"2020-04-20T16:39:16+00:00\",\"dateModified\":\"2020-04-20T16:39:30+00:00\",\"author\":{\"@id\":\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/#\/schema\/person\/1915d169a2244d0703ac9749676fe5cd\"},\"description\":\"TierPoint has officially closed previously announced transactions, resulting in preferred equity investments totaling $320 million.\",\"breadcrumb\":{\"@id\":\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/tierpoint-closes-320-million-in-equity-from-group-of-investors\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/tierpoint-closes-320-million-in-equity-from-group-of-investors\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/tierpoint-closes-320-million-in-equity-from-group-of-investors\/#primaryimage\",\"url\":\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/files\/2020\/03\/TierPoint-Earns-320-Million-From-Team-of-Investors.jpg\",\"contentUrl\":\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/files\/2020\/03\/TierPoint-Earns-320-Million-From-Team-of-Investors.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/tierpoint-closes-320-million-in-equity-from-group-of-investors\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"TierPoint Closes $320 Million in Equity from Group of Investors\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/#website\",\"url\":\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/\",\"name\":\"Best Backup and Disaster Recovery Tools, Software, Solutions &amp; 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