BGF sells Miss Group stake to Perwyn

BGF netted an IRR of more than 100% on its investments in the business, according to a statement.

BGF's Pinesh Mehta will step down from the board, while Perwyn will take a majority stake in the company.

Miss Group will focus on international expansion following the investment, with a focus on Scandinavia, Spain and the US.

Revenue has grown from £8m to £25m since BGF's investment, and EBITDA has increased from £2.5m to £11m, according to a statement.

Previous funding
The company received an initial £6.4m from BGF in August 2018. This was followed by a further £13m investment to accelerate its international expansion strategy in 2019. Previously, Miss Group also received funding from Harbert European Growth Capital.

Miss Group has completed seven acquisitions across Scandinavia, Spain and the US since BGF invested as a minority equity partner.

Company
Miss Group provides a range of IT services to SMEs, including domain registration, site building, web hosting and email management.

The company was founded in Sweden and is now headquartered in Manchester. Founded in 2014, it operates offices in the US, Mexico, India, Bulgaria and the Nordic region. It employs 80 people.

People
Perwyn – Andrew Wynn, Mark Blower (partners).
BGF – Pinesh Mehta (investor).
Miss Group – Mattias Kaneteg (founder, CEO).

Advisers
Equity – Eversheds Sutherland (legal); PwC (tax); Digital Pathfinders (IT due diligence).
Vendor – GCA Altium (corporate finance); Squire Patton Boggs (legal); EY (financial due diligence).
Company – GCA Altium (corporate finance).

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• Topics
• Exits
• Buyouts
• UK / Ireland
• Technology
• United Kingdom
• EY (Ernst & Young)
• GCA Altium
• PwC
• Eversheds
• Squire Patton Boggs
• Secondary buyout