Private equity investors Warburg Pincus and GS Capital Partners are to acquire a majority stake in Endurance International Group, a provider of hosting and online services to small- and medium-sized businesses, from Accel-KKR.
Endurance’s current management team and Accel-KKR will continue to maintain an interest in the Company. Terms of the transaction have not been disclosed.
Since its founding in 1997, Endurance has grown to become one of the world’s leading providers of hosting and related online services for small- and medium-sized businesses – providing web hosting accounts to over 1.9 million unique customers, managing more than 7.7 million domains and delivering over 5 million applications through its proprietary cloud-based infrastructure.
Hari Ravichandran, Endurance’s Founder and Chief Executive Officer, says: "During the past 15 years, Endurance has built a great business by catering to the online needs of small- and medium-sized businesses. We are delighted to welcome Warburg Pincus and GS Capital Partners as our investors and appreciate their strong vote of confidence in our business model. We look forward to leveraging their deep technology expertise and strategic insight as we continue to innovate and grow in order to meet our customers’ continuously expanding needs."
"We believe there is an enormous opportunity to build on Endurance’s success," says Jim Neary (pictured), Managing Director, Warburg Pincus. "We are excited about partnering with the Endurance management team as the Company continues its impressive growth trajectory."
GS Capital Partners’ Managing Director, Joe DiSabato, says: "Endurance is extremely well positioned as a leader in its rapidly growing yet fragmented market, and we look forward to working with the Company, Warburg Pincus and Accel-KKR in the next stage of building this enterprise."
"Endurance has built a terrific platform and we look forward to supporting its continued success. Hari and the team have been great partners over the years and we are pleased they have expanded the Company’s shareholder base with these two world-class private equity firms," says Ben Bisconti, Managing Director, Accel-KKR.
