Thompson Street Capital Partners Portfolio Company Tierpoint Acquires Philadelphia Technology Park
ST. LOUIS (June 19, 2014) – TierPoint, LLC (TierPoint), a Thompson Street Capital Partners (TSCP) portfolio company, announced today the acquisition of Philadelphia Technology Park, LLC (PTP). PTP is a 25,700 square foot data center located within the Philadelphia Navy Yard and is an SSAE 16 Type II audited facility with N+1 power delivery systems. Terms of the transaction were not disclosed.
According to Bob Dunn, Managing Director of Thompson Street, Philadelphia Technology Park will immediately be rebranded as TierPoint, under the TierPoint umbrella. “This acquisition is the sixth for TierPoint, LLC, previously known as Cequel Data Centers. With prior acquisitions, including facilities in Dallas, Spokane, Seattle, Oklahoma City, Tulsa and Baltimore, TierPoint now features more than 141,000 square feet of raised-floor, data center space. This represents a significant expansion of its national data center footprint,” Dunn said.
Said Paul Estes, CEO of TierPoint, “Philadelphia Technology Park is a premier Tier 3 data center in a fast-growing technology market. Philadelphia is a top-five technology employment market with a rapidly growing e-commerce ecosystem and with strong job growth. This move not only strengthens our presence in the Mid-Atlantic region, but it is an excellent fit for us strategically as we continue to build our national network of data centers to meet the growing demand for colocation, cloud and managed services.”
Philadelphia Technology Park is a carrier-class, carrier-neutral high density data center that opened in 2010. The facility was built to meet the requirements of the Uptime Institute for scalable power, cooling infrastructure and enhanced security.