Miss Group lives American dream
WEB HOSTS IN DOUBLE ACQUISITION ACROSS THE POND
FAST-GROWING web hosting company Miss Group has made a double acquisition in the US and Canada.
The Manchester-headquartered company has acquired Hostek, a US-based web hosting company with revenues of US$7.5m.
Founded in 1998, Hostek is a provider of managed server solutions for businesses in the US with a customer base of 15,000 accounts in both shared and VPS hosting.
Alongside the acquisition of Hostek, Miss Group has also acquired a Canadian shared web hosting company with revenues of US$2.5m and an established French language customer base. This acquisition adds 16,000 customers and 28,000 new accounts to the group.
These two acquisitions add greater scale to Miss Group’s North American business, with total proforma revenues of US$12m and a platform that can drive strong organic revenue and margin growth, the group said. Across the wider international business, Miss Group will end 2019 with revenues and EBITDA in excess of £25m and £11m respectively. Mattias Kaneteg, CEO and founder of Miss Group, said: “We are very happy to grow our customer base in the US and Canada and feel that these acquisitions will support our overall growth strategy and entry into Canada and other French-speaking markets.”
In August 2018, Miss Group received a £6.4m investment from BGF which boosted the investment by a further £10m in June.
The funding has allowed the business to expand via organic growth and by acquiring web hosting companies in new and existing markets. Miss Group has also received £20m funding from HSBC as well as funding from Harbert European Growth Capital. Cheval M&A, Squire Patton Boggs, BDO and EY advised Miss Group on the acquisitions.