Private equity firm Oakley Capital has sold its stake in web hosting automation software provider WebPros to CVC, generating a 6.7x return on investment and an IRR of 140%.
As part of the transaction, Oakley Capital’s Fund IV will invest $200 million (£149 million) alongside CVC as a minority partner to benefit from long-term growth opportunities and new product developments.
Oakley Capital’s Fund III originally invested in WebPros in 2017 and since that time the business has made six acquisitions. WebPros now employs over 450 people across four continents and has customers around the world.
Peter Dubens, Managing Partner of Oakley Capital, said: “The success of WebPros to date is the result of many features that are typical of an Oakley investment. A partnership with entrepreneurs we have backed before, a buy-and-build strategy which tackled a high degree of complexity and a sector in which we have deep experience.”
Leif Lindbäck, Senior Managing Director at CVC Capital Partners, added: “CVC has a proven track record of teaming up with entrepreneurs and like-minded investors to support and build better businesses. WebPros brings critical automation and security tools to hosting providers, web agencies and their customers.”