Thompson Street Portfolio Company Tierpoint Completes The Acquisition Of Cosentry
ST. LOUIS (March 31, 2016) – TierPoint, LLC (TierPoint), a Thompson Street Capital Partners (TSCP) portfolio company, has announced the acquisition of Cosentry, a rapidly growing provider of cloud, colocation and managed services based in Omaha, Nebraska. The combined company now operates 39 data centers in 20 markets with approximately 600,000 total square feet of raised floor space.
Concurrent with the closing of this acquisition, TA Associates – which acquired Cosentry in 2011 – has joined TierPoint’s investor group, including Thompson Street Capital Partners, Cequel III, Ontario Teachers’ Pension Plan, RedBird Capital Partners, The Stephens Group, and Jordan/Zalaznick Advisers. 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.
Bob Dunn, TSCP Managing Director said, “This acquisition significantly expands TierPoint’s national data center footprint and greatly increases our company’s ability to serve more customers over a much larger geographical area. We’re excited to support the continued growth of this great business moving forward.”
Said TierPoint Chairman and CEO Jerry Kent, “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.” 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 more than 200 professionals joining us from Cosentry.”