TierPoint LLC said March 31 it has completed its previously announced buy of Cosentry. Financial terms of the deal, announced in January, weren’t disclosed. TA Associates, the seller, will retain a stake and is joining other Cosentry investors including Ontario Teachers’ Pension Plan, Cequel III, RedBird Capital Partners, The Stephens Group, Thompson Street Capital Partners, and Jordan/Zalaznick Advisers Inc. Omaha-based Cosentry provides cloud, colocation and managed services.
- LOUIS–(BUSINESS WIRE)–TierPoint, LLC announced today that it has completed its previously announced acquisition of Cosentry. Terms were not disclosed.
Concurrent with the closing of this acquisition, TA Associates – which acquired Cosentry in 2011 – has joined TierPoint’s investor group, including Ontario Teachers’ Pension Plan, Cequel III, RedBird Capital Partners, The Stephens Group, Thompson Street Capital Partners, and Jordan/Zalaznick Advisers, Inc. This group has backed the company with a significant investment of long-term, flexible equity capital that supports TierPoint’s strategy for continued growth across services and regions.
“The Cosentry acquisition demonstrates our commitment to this industry and further augments our already strong capabilities as a market-leading provider of fully managed IT infrastructure services and hybrid cloud solutions,” said TierPoint Chairman and CEO Jerry Kent.
He added: “We’re well positioned for the future. We have a blue-chip group of knowledgeable investors with a long-term investment horizon. We also benefit from an immensely talented team of employees that now includes the over 200 professionals joining us from Cosentry. The members of this combined team are widely recognized for their extraordinary expertise and singular focus on providing unrivaled, high-touch service that delivers the most effective and efficient solutions for our clients’ organizations.”
“We’re excited to become investors in TierPoint,” said TA Associates Managing Director Harry Taylor. “We believe TierPoint has assembled exceptional talent through its acquisitions, and Jerry and the leadership team have shown great acumen in building successful companies. We also believe IT infrastructure will continue to offer significant growth opportunities and look forward to working with TierPoint management and the investor group to support the company’s ongoing success.”
TierPoint now counts over 850 professionals, a diversified base of approximately 5,000 clients, and 39 data centers in 20 markets with approximately 600,000 total square feet of raised floor space.
TierPoint is a leading national provider of best-in-class IT infrastructure services that help clients improve business performance and manage risk. The company offers multi-tenant, private, and hybrid cloud solutions; disaster recovery, business continuity and other managed services; and colocation – all backed by a commitment to superior customer service and highly-redundant, carrier-neutral data centers coast to coast.