Miss Group acquires MMD Networks to accelerate growth in Finland
Fast-growth web hosting business, Miss Group, has acquired Finnish based MMD Networks OY as part of its ongoing buy and build strategy.
MMD Networks primarily provides shared hosting and related services, with leading brands including mmd.net and verkko24.fi. MMD is the second acquisition that Miss Group has completed in the Finnish market, and complements the Euronic brand, which was acquired in April 2020. MMD Networks adds a further 6,000 SME customers to the Group’s existing 210,000 web hosting customers.
In February 2020, private equity investor, Perwyn acquired a majority position in Miss Group, headquarted in Sweden, to support the growth ambitions of the business through international expansion and ongoing M&A. MMD Networks is the fourth acquisition to be completed under Perwyn ownership and the thirteenth acquisition completed by Miss Group since 2018.
Mattias Kaneteg, Miss Group founder and CEO, said: “We have been really impressed with the strength of the MMD brand and customer base that the management team have built since the business was established in 2001. We think the opportunity to combine this brand and customer strength with Miss Group’s scale, deep expertise and ambition has great potential and will accelerate our growth in the Finnish market as part of our overall expansion plan.
“Businesses continue to focus their efforts on migrating or increasing their business online, and this trend shows no signs of slowing. We are committed to helping SMEs do business online by building the best-in-class provider of hosting, domain and the other services they need.”
Miss Group was supported on this transaction by:
• Legal advice – Squire Patton Boggs (Giles Chesher, Matt Canipa and Mona Mojtabavi) and Krogerus (Jenni Teurokoski)• Financial due diligence – EY (Steven Kingham and Jace Swift)
• Corporate advisory – Anecta and Translink (Eric Forsner, Fredrik Ullberg and Ruben Moring)
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-Certificate, 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 >200,000 web hosting customers. The majority of Miss Group is owned by Perwyn, an international private equity and growth equity investor.
In January 2021, Miss Group acquired UK-headquartered Pickaweb. This marked the twelfth acquisition for Miss Group over the last two years, and added a further 7,000 SME customers across the UK and Spain.
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.
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