CVC Credit is pleased to announce that it has committed debt facilities to part finance the acquisition of Dogado by group.ONE. Cinven (“Cinven”) in partnership with leading global investor Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”), has agreed to acquire and combine group.ONE and dogado group (“dogado”) to create a leading pan-European one-stop-shop provider of online presence solutions including domain, web hosting, cloud hosting, business software and digital marketing services.
group.ONE, is a leading European provider of online mass hosting and software products to c.1.6 million customers through brands including one.com, Hostnet and WP Media. Headquartered in Sweden, it operates across multiple European countries and employs more than 650 people. Dogado is a leading provider of online presence solutions in the DACH region, offering mass and cloud hosting and digital marketing services to more than 380,000 customers. Headquartered in Germany, the company employs more than 500 people.
The combination of group.ONE and dogado represents an attractive investment opportunity based on a number of factors, including strong financial performance, structurally growing, resilient end-markets, two highly complementary businesses joining forces with a view for further growth through an extensive M&A pipeline in order to become the leading consolidation platform in the fragmented European hosting market.
David Deregowski, Director at CVC Credit said: “The combination envisaged by Cinven and Ontario Teachers will create a pan-European web hosting and domains market champion. We are pleased to be supporting the two highly complementary businesses joining forces to become the leading consolidation platform in the fragmented European hosting market.”
Our aim at CVC Credit is always to support strong and stable businesses, run by great management teams and backed by experienced financial sponsors.
Andrew Davies Managing Partner and Co-Head of Private Credit at CVC Credit
Andrew Davies, Managing Partner and Co-Head of Private Credit at CVC Credit added: “We are delighted to be continuing our partnership with Cinven and the management team at group.ONE, as they continue to build on the strong growth the company has achieved. Our aim at CVC Credit is always to support strong and stable businesses, run by great management teams and backed by experienced financial sponsors.”
Read the orginal article: https://www.cvc.com/media/news/2023/2023-04-28-cvc-credit-supports-cinven-and-ontario-teachers-combination-of-group-one-and-dogado-group/
