Cequel Data Centers, a portfolio company of Thompson Street Capital Partners, Charterhouse Group, and Cequel III, today announced the acquisition of TierPoint, a regional provider of colocation, managed IT and cloud computing services.
TierPoint operates three data centers in the greater Spokane, WA area, representing over 30,000 combined square feet of raised-floor, data-center space and almost 4.4 megawatts of total facility power. With its prior acquisitions – including facilities in Dallas, Oklahoma City, and Tulsa – Cequel Data Centers now owns and operates more than 100,000 square feet of raised-floor, data-center space. The company is based in Liberty Lake, WA (www.tierpoint.com).
“Situated in one of the safest areas of the United States, with relatively low power costs and high fiber connectivity, the TierPoint acquisition provides us with geographic diversity and fits well with our overall strategy of acquiring data centers in key markets that position us to respond to the growing demand for colocation, managed I.T. and cloud computing services,” said Paul Estes, President and Chief Executive Officer of Cequel Data Centers.
RBC Capital Markets acted as financial advisor to the sellers and was the sole lead arranger and sole bookrunner for the debt financing associated with this acquisition. Goldman Sachs, CapitalSource Bank, US Bank, ING Capital, and CoBank also participated in the credit facility.
Thompson Street Capital Partners makes investments in manufacturing, service and distribution businesses with annual revenues between $20 million and $200 million, and a minimum EBITDA of $5 million. Thompson Street partners with management in recapitalizations, management buyouts, corporate divestitures, family businesses in transition and take-private transactions. The firm was founded in 2000 and is based in St. Louis, MO (www.tscp.com).
Charterhouse has invested in excess of $2.0 billion in equity and established over 100 platform companies with a focus in the business services, healthcare services and consumer products and services sectors. Charterhouse Group seeks to invest in established middle-market businesses with enterprise values between $50 million and $300 million. The company was founded in 1973 and is located in New York, NY (www.charterhousegroup.com).
Cequel III is an investment and management firm, established in January 2002 by partners Jerry Kent, Howard Wood, and Dan Bergstein. The company is based in St. Louis, MO (www.cequel3.com).