Miss Group acquires Lithuanian web hosting company UAB “Interneto vizija”
Fast-growth web hosting business, Miss Group, has acquired 100% of UAB “Interneto vizija” (www.iv.lt), headquartered in Vilnius in Lithuania, including its subsidiary company UAB “Rakrėjus“
Founded in 2003, UAB “Interneto vizija” (IV) is a market leading web hosting business with around 68,000 customers, and with 170,000 registered domains accounting for 60% of all registered domains in Lithuania. Through its subsidiary company, UAB “Rakrėjus” (www.rackray.com), IV also runs a Tier III data centre based in Vilnius.
Alongside its core shared web hosting and data centre offerings, IV provides services including website development, e-mail, domain names, VPS servers and SSL certificates. The combined web hosting and data centre businesses have reported excellent growth in recent years, with FY2020 revenue forecast at €11.5m and EBITDA margins in excess of 50%.In February 2020, Perwyn acquired a majority position in Miss Group to support the growth ambitions of the business through international expansion and ongoing M&A. This deal is the second acquisition to be completed under Perwyn ownership and the eleventh acquisition for Miss Group in the past two years.
Mattias Kaneteg, Miss Group founder and CEO, said: “This transaction provides a great platform for expansion across the Baltic region. IV is an excellent business and we are looking forward to growing both the shared web hosting and datacentre divisions and delivering new value-added solutions to our customer base in Lithuania. I am delighted to be welcoming IV to the Miss Group family and we look forward to working with our new colleagues to develop and grow the business.”
Arvydas Štrausas, IV founder and CEO, said: “We are proud of what IV has achieved so far and we trust the new owners will bring new possibilities to the growth of the business.”
The sellers of “Interneto vizija” and “Rakrėjus“ were supported on this transaction by:
- Financial advisor - CONFIDENTUS UAB (Marija Leitonienė)
- Legal and Tax advisor - WALLESS (Dovilė Burgienė and Domas Šileika)
Miss Group was supported on this transaction by:
• Corporate advisory – Anecta (Eric Forsner and Fredrik Ullberg)
• Legal advice - Squire Patton Boggs UK (Giles Chesher and Matt Canipa) and Eversheds in Lithuania (Rimtis Puišys)
• Financial and tax due diligence - EY UK (Steven Kingham and Jace Swift) and Lithuania (Agnė Petkevičiūtė and Leonas Lingis)
• IT due diligence – Digital Pathfinders (Neil McGowan)
About Miss Group
Founded in 2014, Miss Group is an international web hosting group that offers a range of hosting related services at competitive prices including web hosting, domain registration, VPS, dedicated servers, website builder, SSL certificates, SEO tools, web security and domain management. Miss Group is also an ICANN-accredited Domain Name registrar via Name ISP. Miss Group is a well-established operator in its core markets, with a customer service-oriented model driving industry-leading performance metrics for its approximately 200,000 customers. The majority of Miss Group is owned by Perwyn, an international private equity and growth equity investor.
About Perwyn
Founded in 2013, Perwyn is an international private equity and growth equity investor, benefiting from evergreen private funding and an entrepreneurial, operationally-engaged approach. Perwyn seeks to build partnerships with the founders and management teams of high growth businesses, focusing on mid-market buy-outs of companies valued at £/€50-250 million and flexible growth investments.
Tags:
