Disposal of Host Europe

RNS Number : 6918S

Oakley Capital Investments Limited

15 September 2010

 



15 September 2010

Oakley Capital Investments Limited

Oakley Capital Private Equity L.P. disposal of Host Europe for £222m

Oakley Capital Investments Limited (AIM:OCL, OCIL, the "Company"), the AIM-listed company established to provide investors with access to the investment strategy being pursued by Oakley Capital Private Equity L.P. (the "Limited Partnership" or the "LP" ) announces the disposal by the Limited Partnership of Host Europe Corporation Limited ("Host Europe") to Montagu Private Equity, for a consideration of £222 million. 

In April 2008, the Limited Partnership acquired Host Europe Corporation Limited ("Host Europe") for a consideration of £128 million.  Host Europe included Vialtus Solutions, which was sold to Daisy Group plc in July 2009 for a consideration of £42 million consisting of £13 million of cash and the issue of 36.25 million ordinary shares in Daisy Group plc. 

Completion of the deal is conditional upon approval from Germany's Federal Cartel Office (Bundeskartellamt), which is expected to take up to four weeks, when further details will be given. The Limited Partnership will continue to own the Daisy Group plc shares post completion.

Peter Dubens, Director of Oakley Capital Investments, commented:

"Host Europe has performed consistently well since Oakley acquired the business in 2008. On completion this will represent a significant disposal for the Fund and achieves a good return for investors over a difficult economic period."

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For further information please contact: 

Oakley Capital Investments Limited	[phone]
Peter Dubens (Director)
Financial Dynamics	[phone]
Juliet Clarke
Liberum Capital Limited (Financial Adviser & Broker)	[phone]
Steven Tredget / Steve Pearce

Notes to Editors

About Oakley Capital Investments Limited

The Company was established to provide investors with access to the investment strategy being pursued by the Limited Partnership.

The primary objective of the Limited Partnership is to invest in a diverse portfolio of private mid-market UK and European businesses, aiming to provide investors with significant long-term capital appreciation. 

The investment strategy of the Limited Partnership is to focus on companies with the scope for performance improvement operating within industries with growth or consolidation potential. In addition, the Limited Partnershipseeks to invest in companies with the potential to achieve scale, thereby commanding a premium on exit.  The Company has committed 65% of the Limited Partnership's total commitments.

About Host Europe Group

Host Europe consists of two divisions operating web hosting businesses in distinct geographies. In the UK, Host Europe operates through the brands 123reg and Webfusion. 123reg is the UK market leader for domain name registration and Webfusion is the UK's second largest shared hosting provider. In Germany, Host Europe GmbH is the German market leader in the standardised managed hosting market.

 

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