Private equity investors Warburg Pincus and GS Capital Partners will acquire a majority stake in Burlington, MA-based Endurance International Group, a hosting service for online businesses.
Credit Suisse, which acted as the financial advisor to Warburg Pincus, also provided debt financing for the transaction.
The amount of the deal remained undisclosed.
The seller, Accel-KKR, will retain a position in the company along with the current management team.
Founded in 1997 by CEO Hari Ravichandran, Endurance provides hosting and related online services for small- and medium-sized businesses. According to a written starement, it delivers web hosting accounts to over 1.9 million unique customers, manage more than 7.7 million domains and deliver over 5 million applications through its proprietary cloud-based infrastructure.
The company intends to use the proceeds from the investment to continue to innovate and grow in order to meet customers’ continuously expanding needs.
FinSMEs
08/11/2011