Cinven completes sale of HEG to GoDaddy Inc
Cinven today announces the completion of the sale of Host Europe Group ('HEG'), the web hosting services provider, to GoDaddy Inc.
Cinven acquired the core business within HEG in August 2013. The transaction marked the first platform acquisition of an overall consolidation strategy, originated by Cinven's TMT team who had identified web services as an attractive and fragmented market.
Under Cinven's ownership, HEG has implemented a successful buy and build strategy, including four significant acquisitions; consolidated the business to six primary brands; strengthened and invested in HEG's management team; improved the organisational structure; and introduced new products.