Oakley Capital sells WebPros to CVC – Oakley Capital Investments has agreed the sale of WebPros to CVC Fund VII. Oakley’s share of proceeds is approximately GBP110 million – a 92% premium to the 30 June 2019 interim carrying value. The sale results in an uplift of 26 pence per share in the NAV, an 8.2% increase in the total NAV per share at 30 June 2019.
Oakley has made 6.7x its money on the deal or 140% a year over the period that it has owned it. Oakley will retain an interest, however, as its Fund IV will invest $200 million alongside CVC Fund VII; the trust’s share of this investment is expected to be GBP43 million
Oakley’s Fund III originally invested in WebPros in 2017 and subsequently completed six acquisitions to create a product portfolio that addresses the full end-to-end customer lifecycle for shared hosting providers. The group now employs over 450 people across four continents and supports customers across the globe.
Fund IV’s investment in WebPros provides an opportunity for Oakley to continue its partnership with the management team and co-investors, and to benefit from the significant long-term growth potential in WebPros, through its extensive product roadmap. CVC Capital Partners brings a complementary skillset and deep relevant expertise to support the strategic vision of the business.
OCI : Oakley Capital sells WebPros to CVC