TierPoint Acquisition, Valuation, Funding & Investors

TierPoint was acquired by Argo Infrastructure in July 2024.

TierPoint acquisition price

Undisclosed

Acquired by Argo Infrastructure · Jul 2024

Cumulative funding TierPoint raised

$820M

across 2 funding rounds

Key investors in TierPoint

  • Argo Infrastructure
  • Macquarie Asset Management
  • Ontario Teachers' Pension Plan
  • RedBird Capital Partners
  • Thompson Street Capital Partners
  • Stephens Group
  • Wafra
  • Cequel III

TierPoint Overview

About TierPoint

TierPoint is an American data center and hybrid IT services provider headquartered in St. Louis, Missouri. It operates 40 data centers across 20 U.S. markets, linked by a coast-to-coast fiber network, and sells colocation, interconnection, managed private and multitenant cloud, managed AWS and Azure services, storage-as-a-service, disaster recovery, IBM mainframe and Power Systems management, and security services such as managed detection and response. It serves more than 3,000 customers, from small businesses and public-sector bodies to Fortune 500 enterprises and hyperscalers, largely under recurring colocation and managed-service contracts. The company began in 2010 by acquiring a single data center in Dallas and grew through acquisitions including Xand in 2014, Hosted Solutions in 2015 and Cosentry in 2016; Thompson Street Capital Partners was among its early backers. Argo Infrastructure Partners first invested in 2020, became its largest single equity investor with a $500 million investment in February 2022, when Jerry Kent was chairman and CEO, and in December 2025 bought out most minority shareholders. Since 2023 TierPoint has issued about $2.0 billion of investment-grade asset-backed securities, partly to fund its Tek Park campus, its largest data center.


Founded

2010

HQ

United StatesSt Louis, MO

Status

Acquired

Customer focus

B2B

Revenue model

Services, Subscription

TierPoint Acquisition

TierPoint was acquired by Argo Infrastructure for an undisclosed price on 11 July 2024.

Before the acquisition TierPoint had raised $820M across 2 funding rounds.

Argo Infrastructure Partners announced on July 11, 2024 that it had increased its ownership stake in TierPoint to a majority interest, taking control of the St. Louis-based data center operator. The size of the additional stake, the price and the sellers were not disclosed. Argo said it had invested approximately $700 million in TierPoint since 2020, and that together with $1.6 billion of securitization issuances over the preceding twelve months, $2.3 billion had been invested in the TierPoint platform since 2020. Argo first invested in TierPoint in a $320 million raise in 2020 alongside Wafra and Macquarie Capital Principal Finance, and became the largest single equity investor in 2022 with a $500 million investment. The holding sits in Argo's third-vintage fund series, where TierPoint is the largest of six investments and one of the largest of Argo's 18 portfolio companies. Argo said it expected demand for enterprise and high-density colocation, including capacity for artificial intelligence and machine learning workloads, to translate into significant growth of the portfolio. Founding partner Jason Zibarras described the move as a reaffirmation of Argo's commitment as a long-term investor in the platform. TierPoint was founded in 2010 and operates 40 data centers in 20 U.S. markets connected by a coast-to-coast fiber network, providing colocation, interconnection and managed services to more than 3,000 customers. Its $1.6 billion of asset-backed securities issued since 2023 were rated investment grade and issued under the company's Green Finance Framework. Argo Infrastructure Partners is a New York-based mid-market infrastructure fund manager that managed more than $6 billion at the time.

TierPoint acquisition details
AcquirerDateType
  • Argo Infrastructure
11 Jul 2024PE buyout

Sources: bankstreet.com, finance.yahoo.com

TierPoint Funding History

TierPoint has raised a total of $820M across 2 funding rounds, plus 1 secondary share sale.

TierPoint's first fundraising round was a $320M undisclosed-stage round in March 2020. The most recent completed round was a $500M undisclosed-stage round in February 2022.

TierPoint funding rounds

TierPoint funding rounds
DateStageInvestorsRaisedDeal Summary
Dec 2025SecondaryArgo Infrastructure-Argo Infrastructure Partners announced on December 9, 2025 that it had acquired, on behalf of its managed funds, the equity interests of the majority of TierPoint's minority shareholders, further increasing its controlling stake in the data center operator. Financial terms of the private transaction were not disclosed, and the transaction had closed at announcement. Bank Street Group acted as Argo's exclusive financial advisor and King & Spalding as its legal counsel. The deal is an add-on investment by Argo Infrastructure Partners, the mid-market infrastructure manager that Apollo Global Management agreed to acquire in January 2025. Argo first invested in TierPoint in 2020 and took a majority interest in July 2024; it said the latest purchase brought total capital formation under its ownership to $3 billion, raised to fund growth and to reduce TierPoint's cost of capital by terming out debt facilities. Managing partner Jason Zibarras said the increased commitment reflected Argo's conviction in more than doubling the size of the portfolio, supported by customer demand. TierPoint expects to contract existing under-roof data center capacity in its markets, which would more than double the size of its portfolio in the coming years. Since 2023 the company has issued about $2.0 billion of investment-grade asset-backed securities, including a $240 million issuance in October 2025 that funded the acquisition of its largest campus, Tek Park, adding 100 megawatts of expansion capacity. TierPoint has a 15-year operating history and runs 40 data centers in 20 U.S. markets connected by a coast-to-coast fiber network, providing colocation, interconnection and managed services to more than 3,000 customers. Argo managed about $7 billion of assets as of December 2025.
Feb 2022Undisclosed stageArgo Infrastructure (lead)$500MTierPoint is a leading provider of secure, connected data center and cloud solutions at the edge of the internet, offering private, multitenant, managed hyperscale, and hybrid cloud services, plus colocation, disaster recovery, security, and other managed IT services. It operates one of the largest and most geographically diversified U.S. footprints with over 40 world-class data centers in 20 markets and 8 multitenant cloud pods, connected by a coast-to-coast network. On February 28, 2022, TierPoint closed a $500 million long-term investment from an affiliate of Argo Infrastructure Partners LP, making Argo the largest single equity investor. Net proceeds were used to provide partial liquidity to other investors and to invest in TierPoint’s network for continued growth. Argo Infrastructure Partners, a long-term infrastructure investor, was attracted to TierPoint’s essential network services, proven management, and strong financial and operating results. TierPoint Chairman and CEO Jerry Kent highlighted the investment as validation of their customer care, IT infrastructure solutions, and growth potential amid high industry demand. Argo Managing Director Richard Klapow emphasized their experience in infrastructure investments to support TierPoint long-term. This followed an earlier $320 million preferred equity investment led by Argo in March 2020. Subsequent developments include Argo increasing its stake by acquiring majority minority shareholder interests in a later private transaction, deepening backing amid accelerating demand for data center services. Since 2020, Argo has facilitated around $3 billion in capital for TierPoint’s expansion, site acquisitions, power expansions, and financing via asset-backed securities, including $2.0 billion issued since 2023. Recent activities encompass a $250 million term loan in July 2025 and the Tek Park acquisition, adding 100 megawatts of capacity.
Mar 2020Undisclosed stageArgo Infrastructure (lead); Macquarie Asset Management (lead); Wafra (lead); Cequel III; Ontario Teachers' Pension Plan; Thompson Street Capital Partners; RedBird Capital Partners; Stephens Group$320MTierPoint, a provider of secure, connected data center and cloud solutions at the edge of the internet, operates over 40 world-class data centers in 20 U.S. markets and 8 multi-tenant cloud pods, connected by a coast-to-coast network. It offers private, multitenant, managed hyperscale, and hybrid cloud services, plus colocation, disaster recovery, security, and other managed IT services to thousands of clients from small businesses to Fortune 500 enterprises, including The Bill & Melinda Gates Foundation and St. Luke’s University Health Network. TierPoint focuses on tier 2 and 3 markets like Tulsa, Little Rock, and Nashville, positioning it in the aggregation edge layer of data center infrastructure. On March 24, 2020, TierPoint announced a $320 million preferred equity investment led by new investors Argo Infrastructure Partners, Wafra, and Macquarie Capital Principal Finance, with participation from existing investors Cequel III, Ontario Teachers' Pension Plan, RedBird Capital Partners, The Stephens Group, and Thompson Street Capital Partners. The deal closed on April 14, 2020. Net proceeds repaid TierPoint’s second lien credit facility in full, reduced its revolving credit facility balance, and provided growth capital. Chairman and CEO Jerry Kent highlighted strong performance amid challenging market conditions due to the Coronavirus pandemic, noting 26% growth in sales bookings over the last two years and an outstanding first quarter of 2020. The investment strengthened the balance sheet with reduced leverage, improved liquidity, and positioned TierPoint for continued expansion in services, infrastructure, and people. In 2020, the year of the round, TierPoint generated $422.8 million in revenue. Financial advisors included Citi and DH Capital for TierPoint, with Goldman Sachs advising RedBird Capital.

Who has invested in TierPoint?

8 investors have backed TierPoint across its funding rounds, including Argo Infrastructure, Macquarie Asset Management, Ontario Teachers' Pension Plan, RedBird Capital Partners, Thompson Street Capital Partners and Stephens Group.

Lead investors include Argo Infrastructure, Macquarie Asset Management and Wafra.


TierPoint Investors

Investors in TierPoint by funding rounds participated
InvestorHQRoundsRoleFirst check
Argo InfrastructureUnited StatesNew York City, NY3LeadMar 2020
WafraUnited StatesNew York City, NY1LeadMar 2020
Cequel IIIUnited StatesSaint Louis, MO1ParticipantMar 2020
Macquarie Asset ManagementAustraliaSydney1LeadMar 2020
Ontario Teachers' Pension PlanCanadaToronto1ParticipantMar 2020
Thompson Street Capital PartnersUnited StatesSt Louis, MO1ParticipantMar 2020

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Acquisitions by TierPoint

TierPoint has acquired 5 companies to date.

Last acquisition by TierPoint was on January 20th 2016. TierPoint acquired Cosentry for undisclosed valuation.


Latest Acquisitions by TierPoint

Cosentry
Hosted Solutions
AlteredScale
CxP Data Centers
Description
Cosentry is an Omaha-headquartered provider of data center colocation and managed IT services in the Midwest United States. Operating Tier III facilities in Nebraska, Iowa, and Kansas with over 100,000 square feet of space, it delivers redundant power, cooling, and connectivity via multiple carriers. Cosentry serves financial institutions, healthcare providers, and enterprises requiring 99.999% uptime, including cross-connects to Google Fiber and Zayo networks.
Hosted Solutions is a provider of managed hosting and data center services. The Manchester, New Hampshire-based firm operates facilities offering colocation, dedicated servers, and application hosting with 24/7 monitoring. Its hi-touch support includes managed firewalls, load balancing, and compliance services for sectors like healthcare and e-commerce across North America.
AlteredScale is a data center services provider delivering cloud infrastructure, colocation facilities, and managed hosting to support enterprise computing needs. The company equips businesses with scalable environments for data storage, application hosting, and network connectivity.
CxP Data Centers is a Mexico City-based provider of colocation services, security solutions, and cloud infrastructure for enterprise data and equipment. Specializing in high-security facilities, the company supports businesses with scalable data center capacity across multiple locations in Mexico, emphasizing redundancy, power efficiency, and 24/7 monitoring for mission-critical operations.
HQ CountryUnited StatesUnited StatesUnited StatesUnited States
HQ City
Omaha, NE
Raleigh, NC
Chicago, IL
Jacksonville, FL
Deal Date20 Jan 201618 Dec 201517 Dec 201527 Jul 2015
Valuationundisclosed$575Mundisclosed$11M
EV/Revenue
EV/EBITDA

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TierPoint Competitors

TierPoint competitors include listed companies like Microsoft, Alphabet, Cisco and Oracle, and private ones like Databricks and Fireworks AI.

Public and private companies comparable to TierPoint
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
MicrosoftUnited StatesUnited StatesPublicly listed$332B$205B$3.9T11.1x
AlphabetUnited StatesUnited StatesPublicly listed$403B$176B$3.5T7.0x
CiscoUnited StatesUnited StatesPublicly listed$63B$19B$370B5.8x
OracleUnited StatesUnited StatesPublicly listed$67B$33B$362B6.3x
DatabricksUnited StatesSan Francisco, CAPrivate$7B-$190B27.1x
Fireworks AIUnited StatesSan Francisco, CAPrivate$1B-$18B17.5x

TierPoint Public Comps

TierPoint is no longer listed, but its public comps include Microsoft, Alphabet, Amazon, Cisco, Oracle, Alibaba Group, IBM, Dell, ServiceNow and Cloudflare.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Microsoft$332B$205B11.9x11.1x19.2x18.2x
Alphabet$403B$176B8.4x7.0x19.2x15.3x
Amazon$717B$161B4.1x3.6x18.4x14.1x
Cisco$63B$19B6.1x5.8x20.0x15.1x
Oracle$67B$33B7.2x6.3x14.9x11.1x
Alibaba Group$154B$15B1.7x1.6x17.4x12.0x
IBM$68B$17B4.3x4.1x17.3x14.5x
Dell$114B$12B2.0x1.3x20.0x10.9x

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Common questions about TierPoint

When was TierPoint founded?TierPoint was founded in 2010.
Where is TierPoint headquartered?TierPoint is headquartered in St Louis, MO, United States.
Is TierPoint publicly listed?No, TierPoint was acquired by Argo Infrastructure in July 2024.
Who acquired TierPoint?TierPoint was acquired by Argo Infrastructure in July 2024.
How much funding has TierPoint raised?TierPoint has raised $820M across 2 funding rounds.
What was TierPoint's last funding round?TierPoint's last funding round was a $500M undisclosed-stage round in February 2022, led by Argo Infrastructure.
Who are TierPoint's investors?TierPoint's investors include Argo Infrastructure, Wafra, Cequel III, Macquarie Asset Management, Ontario Teachers' Pension Plan, Thompson Street Capital Partners, RedBird Capital Partners and Stephens Group.
Which companies are comparable to TierPoint?Companies comparable to TierPoint include Microsoft, Alphabet, Cisco, Oracle, Databricks and Fireworks AI.
How many companies has TierPoint acquired?TierPoint has acquired 5 companies, including Cosentry, Hosted Solutions, AlteredScale, CxP Data Centers and Xand.
What was the largest acquisition by TierPoint?The $575M acquisition of Hosted Solutions in December 2015 is the largest acquisition TierPoint has made to date.

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