Argo, Wafra and Macquarie Lead $320M Preferred Equity Investment in TierPoint
March 24, 2020
TierPoint agreed to receive $320 million of preferred equity led by Argo Infrastructure Partners, Wafra, and Macquarie Capital Principal Finance, with participation from existing investors including Cequel III, Ontario Teachers' Pension Plan, RedBird Capital Partners, The Stephens Group, and Thompson Street Capital Partners. Net proceeds will repay second-lien debt, reduce the revolving credit facility balance, and provide growth capital to fund TierPoint's continued expansion of its data-center and hybrid cloud services.
- Buyers
- Argo Infrastructure Partners, Wafra, Macquarie Capital Principal Finance, Cequel III, Ontario Teachers' Pension Plan, RedBird Capital Partners, The Stephens Group, Thompson Street Capital Partners
- Targets
- TierPoint
- Industry
- Infrastructure
- Location
- Missouri, United States
- Transaction Type
- Growth capital
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