CLOUD EQUITY GROUP Cloud Equity Group Announces Sale of its Portfolio Company ComfortHost
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NEW YORK, NY / ACCESSWIRE / August 15, 2022 / Cloud Equity Group, a leading private equity firm with an investment focus in companies within the technology-enabled business services, announced the sale of its portfolio company, ComfortHost to KnownHost. ComfortHost is a leading provider of web hosting services. The sale marks the second portfolio realization for Cloud Equity Group this year. The terms of the transaction were not disclosed.
ComfortHost is a web hosting company that provides shared, reseller, virtual private server, cloud, and dedicated server hosting to customers internationally. The firm provides hosting services out of its datacenter locations in Orlando, Buffalo, and Barcelona.
Cloud Equity Group originally invested in ComfortHost in October 2016. During Cloud Equity Group's six-year ownership period, revenue and EBITDA increase significantly driven by an organic growth strategy focused on new customer wins and wallet share expansion of ComfortHost's strategic add-on acquisition of Advantagecom Networks in July 2020.
"We're very proud of what we've accomplished during our partnership with ComfortHost. Over the past six years, the company has experienced tremendous growth and has further solidified its position as a market leader in high performance hosting services" said Sean Frank, a managing partner at Cloud Equity Group. "KnownHost is the perfect new partner to help ComfortHost continue its momentum, and we look forward to hearing about its ongoing innovation and success."
About Cloud Equity Group
Founded in 2013, Cloud Equity Group is a premier asset management firm investing in lower-middle market growth technology companies. Cloud Equity Group's mission is to partner with and support the best entrepreneurs in growing, profitable technology companies. The firm's deep sector expertise and resources help to build great companies with an aim to accelerate growth, improve operations, and drive long-term sustainable value. To learn more, please visit: https://www.cloudequitygroup.com
About ComfortHost
ComfortHost is an established web hosting provider servicing customers internationally across its Buffalo, Orlando, and Barcelona locations. ComfortHost has the capabilities to provide the quality, power, and speed to keep businesses optimized and running quickly over the internet. The firm's goal is to provide and connect thousands of clients around the world with a personalized hosting solution to meet the rising information technology demands of businesses.
Investor Relations
P : (212) 618-1298
ir@cloudequitygroup.com
SOURCE: Cloud Equity Group
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source : webdisclosure.com