Agreement
£222m
enterprise value
Generating
2.4x
MM
Generating
45%
IRR
At the time of Fund I’s acquisition in 2008, the company operated two divisions in the UK – Webfusion, a market leader for domain registration and the second largest shared hosting provider; and Vialtus Solutions, a provider of connectivity and network solutions to SMEs and the mid-market.
In addition, Host Europe operated a division in Germany, Host Europe GmbH, the German market leader in standardised managed hosting services.
Under Oakley’s ownership, Host Europe divested the non-core Vialtus division to Daisy and executed on an operational restructuring and profit improvement plan.
Furthermore, the company undertook two bolt-on acquisitions, acquiring the assets of XCalibre, a web-hosting and virtualisation business, and Vanager Gmbh, Germany’s fifth largest virtual private server provider.
In October 2010, we completed the sale of Host Europe to Montagu Private Equity for an enterprise value of £222m generating a money multiple of 2.4x and an IRR of 45% for Fund I.
Our origination network helps us source investments others cannot. Often, we are the first institutional investor in our portfolio companies.
