Cinven buys One.com from Accel-KKR

Cinven will invest via its Sixth Cinven Fund. The vehicle closed on its €7bn hard-cap in mid-2016 after just four months on the road. It usually invests €150-600m in management buyouts and management buy-ins across Europe, the US and Asia. 

Cinven is no stranger to the hosting and domain services space, having previously invested in HEG (formerly Host Europe Group) in 2013. Cinven invested in HEG as a platform in order to consolidate the fragmented European hosting market. The GP ultimately sold the asset to US strategic acquirer GoDaddy in 2017.

Accel-KKR and ATP Private Equity Partners provided growth capital to One.com in 2014. Terms of the deal were not disclosed, though it is understood that ATP's co-investment (alongside its investee fund Accel-KKR V) amounted to €8m.

The company has thrived since then, according to the vendor, with revenues doubling from €30m to €60m and profitability growing by 50x.

Company
Established in 2002, One.com provides web hosting services and domain names. Based in Copenhagen, One.com has 270 employees and serves 1 million customers, with a focus on northern Europe.

People
Cinven – Thomas Railhac (partner).
Accel-KKR – Greg Williams (managing director).

Advisers
Company – Arma Partners (M&A); DC Advisory (M&A); Taylor Wessing (legal).

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