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Miss Group nets £13m follow-on funding from BGF

Investment news
28.06.2019.

Fast-growing Manchester-headquartered Miss Group has secured a £13m follow-on investment from BGF, the UK and Ireland’s most active investor, to support its international acquisition strategy.

Founded in 2014, Miss Group is an international web hosting business that offers a range of services to the SME market, such as web hosting, domain registration, VPS and dedicated servers.

Following BGF’s initial investment in August 2018, Miss Group acquired Hemsida24 and Heymo to grow its reach across Scandinavia. The deal saw the company add 14,000 customers and €1m EBITDA to the business. The acquisition of FS Data in March 2019 brought 30,000 more customers to the business and £1.5m EBITDA. The follow-on investment from BGF will support further European acquisitions as Miss Group embarks on its next phase of growth.

The deal brings BGF’s total investment into Miss Group of £19m, supporting significant growth over this period with 2019 projected sales of £21m.

Mattias Kaneteg, founder and CEO of Miss Group, said: “We have ambitious plans for growth and a strategy to add additional complementary acquisitions to our stable. We believe there’s still significant growth potential to expand into new markets, which we’re able to do with the funding and support provided by BGF.”

Pinesh Mehta, an investor at BGF who sits on the board of Miss Group, added: “Mattias and Miss Group’s track record speaks for itself – the team knows the market and its SME customers inside out. With offices already spanning the UK, US, India, Bulgaria and Scandinavia, we look forward to supporting further growth by expanding the business’ already impressive global footprint.”

Advisers: Knights Plc (acting for BGF)

Squire Patton Boggs (acting for Miss Group)

BGF’s North West team has invested £250m since 2011 across 28 deals in the region. Recent investments include; follow-on investment into day nursery group, Kids Planet, investment into bakery business St Pierre Group, and funding for fintech company, Planixs.

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