EQT sells TransIP back to founder

The GP has made the divestment from EQT Mid Market and EQT Mid Market Europe, €1.1bn and €1.6bn funds that closed in Jan 2014 and May 2017 respectively.

The transaction ends a holding period of just more than one year, with EQT acquiring the company in August 2016 for an undisclosed sum.

TransIP projected revenues of €25m for 2016, according to a statement, while publicly available documents reveal an operating profit of €9.7m. EQT reports "substantial growth and EBITDA increase" under its ownership.

The vendor said both parties believe a structure of one owner with sole control is the best situation for TransIP.

CEO Oliver Mauss and CFO Mark Stork have left their roles at TransIP. The GP announced in a separate statement that it looks forward to further cooperation with the duo.

Previous funding
EQT acquired a majority stake in TransIP in August 2016. It was the first investment from EQT Mid Market Europe, which held a final close on €1.1bn a month earlier.

Company
Founded in 2003, TransIP provides domain names, web hosting and virtual private servers to 200,000 entrepreneurs and businesses. The company is headquartered in Leiden, the Netherlands, and employs 70 people.

People
EQT Partners – Jannik Kruse Petersen (partner, investment adviser).
TransIP – Ali Niknam (founder).

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• Topics
• Exits
• Benelux
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• EQT
• Management buyback