Oakley Capital Investments' Fund III acquires Plesk
Oakley Capital Investments Ltd has completed a deal to acquire the assets and operations of Plesk via Oakley Capital Private Equity III (Fund III).
Financial Services
13,944.42
11:09 26/04/24
FTSE AIM 100
3,645.42
11:15 26/04/24
FTSE AIM All-Share
755.98
11:15 26/04/24
Oakley Capital Investments Ltd. (DI)
474.67p
09:39 26/04/24
The deal was at an enterprise value of $105m, as a carve out from the Parallels Group.
Fund III had invested $27.4m for a 51% controlling stake in the business.
The company's indirect contribution through its interest in Fund III was about £10.0m.
The investment in Plesk represented another primary, proprietary deal in one of Oakley's core sectors, originating from long-standing relationships within the hosting industry.
Plesk was one of the most widely used control panels and software platforms for simplifying the lives of Web Professionals.
It generated revenues of $28m and EBITDA of about $14m for the year to 31 December 2016.
At 10:37 BST, shares in Oakley Capital Investments were up 0.33% to 154p each.