Perwyn-backed Miss Group acquires Finnish web hosting firm Seravo
This is the third Finnish acquisition for the ambitious, fast-growth web hosting company.
Established in 2011, Seravo - the world’s fastest WordPress server provider - offers premium hosting services and upkeep for over 4,000 WordPress sites. Seravo has reported steady double-digit revenue growth over recent years, with revenues in the financial year to December 2020 of €1.5m forecast to increase to €1.9m in FY21.
This is the third acquisition that Miss Group has completed in the Finnish market following the acquisitions of MMD Networks earlier this month and Euronic in April 2020 and will support the Group’s continued growth in Finland and into new markets – adding to the Group’s existing 216,000 web hosting customers.
Mattias Kaneteg, Miss Group founder and CEO, said: “Seravo has developed a high growth, scalable, recurring revenue business model with an impressive track record, and Miss Group is well positioned to sell Seravo’s WordPress SaaS product and services into our global customer network.
“Seravo has built an impeccable reputation as one of the world’s fastest WordPress server providers which will further strengthen Miss Group’s service offering as the best-in-class provider of hosting, domain and other web services that our customers require. Together with the Euronic and MMD brands, our synergies across the group will establish a new market leader in Finland, accelerating growth and boosting profitability.”
Otto Kekäläinen, Seravo’s founder, said: “As Seravo has become the market leader in its WordPress focused category in Finland, our natural next step is to replicate the success internationally under the wings of Miss Group, for the benefit of all of their existing and future customers”.
In February 2020, private equity investor Perwyn acquired a majority position in Miss Group, headquartered in Sweden, to support the growth ambitions of the business through international expansion and ongoing M&A. Seravo is the fifth acquisition to be completed under Perwyn ownership and the fourteenth acquisition completed by Miss Group since 2018.
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)
Seravo was advised by:
• Kari Heikkinen and Juho Nuutila, Neuvoa Advisors
• Martin von Willebrand, HH Partners
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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.
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.