Private Equity Firm Cinven Plans to Sell Web Host HEG
29 April 2016
Private equity firm Cinven has announced its intention to sell web host Host Europe Group (HEG). Cinven, which has headquarters in London, United Kingdom, was established in 1977. The company has a global presence with offices in Guernsey, London, New York, Paris, Frankfurt, Milan, Luxembourg, Madrid, and Hong Kong. It is looking to generate 1.7 billion euros ($1.9 billion) from its sale of HEG.
HEG, which has headquarters in Hayes, Middlesex, United Kingdom, offers a range of web hosting products. The company’s mission is to “web-enable businesses like no other” by offering ‘next generation business’ solutions that include mass hosting, managed hosting and data centre services.
Catering to 1.7 million customers and operating 7 data centre facilities in Europe and USA, HEG is the largest privately owned hosting provider in Europe. It is also the largest domain registrar in the UK. Cinven bought HEG in 2013 for 438 million pounds ($639 million).
Forecasts suggest that HEG will continue year-on-year growth by generating 140 million euros ($160 million) in 2016. If Cinven fails to generate prospective buyers for the amount Cinven expects it will most likely abandon the sale and keep the company as an asset.
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