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DLA Piper advises lenders on Montagu’s GBP222m buyout of Host Europe Group

DLA Piper has advised a group of six lenders on their provision of senior debt funding for Montagu Private Equity’s GBP222m acquisition of web services company Host Europe Group from AIM-listed firm Oakley Capital.

DLA Piper has advised a group of six lenders on their provision of senior debt funding for Montagu Private Equity’s GBP222m acquisition of web services company Host Europe Group from AIM-listed firm Oakley Capital.

The lenders are HSBC Bank, Lloyds Banking Group, Clydesdale Bank, Commerzbank Aktiengesellschaft, IKB Deutsche Industriebank and Société Générale (London branch).

Completion of the acquisition is conditional on approval from Germany’s Federal Cartel Office.

Founded in 1997, Host Europe Group provides domain registration and hosting services to small and medium-sized enterprises in the UK and Germany and has expressed plans to move into the software-as-a-service sector. Comprised of two businesses, Webfusion and Host Europe, which Montagu has stated it plans to merge, the company has 730,000 clients and a strong presence in the cloud computing sectors of the UK and Germany.

David Miles, finance partner at DLA Piper, says: "We are delighted to have been able to act for the six lenders on this UK/German deal. It is great to see continuing strength in the leveraged finance market particularly for cross-border deals of this nature."

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