Perwyn-backed Miss Group acquires Finnish web hosting firm Seravo
International web hosting business, Miss Group, has acquired Finnish-based Seravo Oy as part of its global buy and build strategy.
Established in 2011, Seravo offers premium hosting services and upkeep for over 4,000 WordPress sites. Seravo has reported steady double-digit revenue growth over recent years, with revenues in the financial year to December 2020 of EUR1.5 million forecast to increase to EUR1.9 million in FY21.
This is the third acquisition that Miss Group has completed in the Finnish market following the acquisitions of MMD Networks earlier this month and Euronic in April 2020 and will support the Group’s continued growth in Finland and into new markets – adding to the Group’s existing 216,000 web hosting customers.
Mattias Kaneteg, Miss Group founder and CEO, says: “Seravo has developed a high growth, scalable, recurring revenue business model with an impressive track record, and Miss Group is well positioned to sell Seravo’s WordPress SaaS product and services into our global customer network.
“Seravo has built an impeccable reputation as one of the world’s fastest WordPress server providers which will further strengthen Miss Group’s service offering as the best-in-class provider of hosting, domain and other web services that our customers require. Together with the Euronic and MMD brands, our synergies across the group will establish a new market leader in Finland, accelerating growth and boosting profitability.”
Otto Kekäläinen, Seravo’s founder, says: “As Seravo has become the market leader in its WordPress focused category in Finland, our natural next step is to replicate the success internationally under the wings of Miss Group, for the benefit of all of their existing and future customers.”
In February 2020, private equity investor Perwyn acquired a majority position in Miss Group, headquartered in Sweden, to support the growth ambitions of the business through international expansion and ongoing M&A. Seravo is the fifth acquisition to be completed under Perwyn ownership and the fourteenth acquisition completed by Miss Group since 2018.