ACCESS Newswire
15 Aug 2022, 14:31 GMT+10
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
[email protected]
SOURCE: Cloud Equity Group
Get a daily dose of Atlanta Leader news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Atlanta Leader.
More InformationEVERGLADES, Florida: Over the weekend, a diverse coalition of environmental activists, Native American leaders, and residents gathered...
BEIJING, China: China's national soccer team may struggle to stir excitement, but its humanoid robots are drawing cheers — and not...
]LONDON, U.K.: A World Health Organization (WHO) expert group investigating the origins of the COVID-19 pandemic released its final...
DOVER, Delaware: California Governor Gavin Newsom has taken legal aim at Fox News, accusing the network of deliberately distorting...
FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...
TORONTO, Canada: Harvard University and the University of Toronto have created a backup plan to ensure Harvard graduate students continue...
NEW YORK, New York - Global stock indices closed with divergent performances on Tuesday, as investors weighed corporate earnings, central...
TORONTO, Canada: Canadian Prime Minister Mark Carney announced late on June 29 that trade negotiations with the U.S. have recommenced...
Vancouver, Canada: A high-stakes legal showdown is brewing in the world of athleisure. Lululemon, the Canadian brand known for its...
LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP. The Wall Street Journal...
NEW YORK, New York - U.S. stock markets closed firmly in positive territory to start the week Monday, with the S&P 500 and Dow Jones...
WASHINGTON, D.C.: On Friday, President Donald Trump announced that he was halting trade discussions with Canada due to its decision...