BGF has backed Manchester-based hosting firm, Miss Group, with a further £13m, taking its total investment to more than £19m.
The cash, much like the £6.4m BGF invested in 2018, will be used to support its international acquisition strategy.“
“We have ambitious plans for growth and a strategy to add additional complementary acquisitions to our stable. We believe there’s still significant growth potential to expand into new markets, which we’re able to do with the funding and support provided by BGF,” said Mattias Kaneteg, founder and CEO of Miss Group.
The web hosting business has already acquired Hemsida24 and Heymo to grow its reach across Scandinavia. These deals saw it add 14k customers and €1m EBITDA.
In March it bought FS Data, bringing 30k more customers and £1.5m EBITDA.
“Mattias and Miss Group’s track record speaks for itself – the team knows the market and its SME customers inside out. With offices already spanning the UK, US, India, Bulgaria and Scandinavia, we look forward to supporting further growth by expanding the business’ already impressive global footprint,” added Pinesh Mehta, an investor at BGF who sits on the board of Miss Group.
The company is projecting sales of £21m this year.
