Cinven completes acquisition of Host Europe Group
European private equity firm, Cinven, today announces the completion of its acquisition of Host Europe Group, the leading European provider of hosting and domain services to SMEs, for a total consideration of £438 million. The acquisition was supported by a debt package provided by a club of 10 banks.
Cinven’s TMT sector team identified Host Europe Group as an attractive investment opportunity given the rapid growth of the hosting industry, along with market fragmentation and consolidation opportunities within the European hosting market and Host Europe’s established market leading positions.
The debt financing consists of £255 million of Senior Secured Credit Facilities, including undrawn facilities.