BC Partners Acquires PlusServer from GoDaddy in €400M Deal

Add Your Comments

GoDaddy has reached an agreement to sell managed hosting provider PlusServer to funds advised by BC Partners for €397 million ($456 million), the company announced Tuesday.

PlusServer is based in Cologne, Germany, and was acquired by GoDaddy as part of the €1.69 billion Host Europe Group (HEG) deal in December. GoDaddy said at the time it would consider strategic alternatives for PlusServer, including its sale, and it was treated as an asset for sale since the deal closed in April. GoDaddy will now use the funds from the sale plus cash on hand to repay its €500 million bridge loan, according to the announcement.

Reuters reports that PlusServer had over 300 employees and earned approximately €100 million in revenue last year.

“The market for managed hosting in Germany is highly fragmented, and PlusServer is an ideal platform for consolidating this market,” BC Partners managing partner Stefan Zuschke said in a statement on Tuesday, according to Reuters.

PlusServer will assume €23 million in liabilities and retain €12 million in cash under the deal, GoDaddy says.

BC Partners other current investments include Cyxtera, the data center provider it formed, along with Medina Capital, by acquiring CenturyLink assets in May.

The deal is subject to standard regulatory approval, and is expected to close by the end of August.

Add Your Comments

  • (will not be published)