April 10, 2008 – (HOSTSEARCH.COM) – ABRY Partners, a private equity firm, has bought web hosting provider Hosted Solutions for $140 million, it was announced recently. The company’s current management team will continue in their current roles.
“This is an incredible milestone for our business,” explained Hosted Solutions’ Founder and CEO, Rich Lee. “Partnering with ABRY Partners provides us with the capital to fulfill our vision and accelerates our strategic growth plans.”
“Over the last seven years, we’ve built a business that we’re incredibly proud of, growing in a controlled, strategic way to become a profitable company with five state-of-the-art data centers and a reputation for providing world class service,” added Mr. Lee. “Our employees and customers will see great benefit from this transaction as ABRY is a long-term partner that shares in our commitment to continue to grow the business and set the standard in the industry for service and innovation.”
ABRY Partners has completed over 500 media and business investments to a combined total of $21 billion since 1989.
“Hosted Solutions operates an incredibly strong business,” suggested ABRY Partners partner C.J. Brucato. “They’ve built a leading company in a market with great growth prospects. What impressed us most about Hosted Solutions is the quality of operations, the focus on customers and the controlled manner in which they’ve grown. They’re a profitable business generating strong revenue today and we see tremendous potential for the business to continue to grow and expand.”
Hosted Solutions’ offers data center and managed hosting services to businesses. The company operates SAS 70 Certified facilities in Boston Massachusetts, Charlotte North Carolina, and Cary North Carolina in the USA. The company’s headquarters will remain in Raleigh North Carolina USA.
