US investment management company
Cloud Equity Group (CEG) has acquired a total of eleven hosting companies in a portfolio that belongs to Software-as-a-Service (SaaS) provider
Conseev, LLC (Conseev). CEG, which was founded in 2013, has headquarters in the United States and operates on Wall Street. The company capitalizes on expanding industries like web hosting and the cloud. It leverages investor capital to acquire lower middle market companies that “possess high levels of unlevered free cash flow and/or significant opportunity for exponential growth”. Financial aspects of its acquisition of Conseev were not announced.
Conseev is a software development company that since 2011 has been involved in acquiring web hosting companies. The company streamlines the process of “creating, launching, and operating SaaS and web-based service businesses”. It has grown “both organically and by acquisition” and its 11 brands (including IQNect Hosting, Cloak Hosting, VPSCheap, tmzVPS, EasySEOHost, Idologic Networks, The Prime Host, Service Site Hosting, PureSpeed Hosting, Web Weaver Elite Web Hosting, and TechArk Internet Services) offer an extensive range of hosting and cloud-related services. These companies will remain under the control of its management team.
“We believe strongly in the long-term growth tailwinds around the hosting sector, and are excited to partner with Juan and his team to continue to build an international conglomerate with real scale advantages and a differentiated value proposition for its customers,” suggested CEG’s Managing Partner Sean Frank.
“As an 8-year web hosting veteran, I’m very enthusiastic about what CEG can bring to the table. It’s rare to find a group that provides the benefits of belonging to a larger organization (more resources and larger network) without the usual downsides of strict horizontal integration,” added Conseev’s Chief Operating Officer, Juan Costa.
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