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Cloud Equity Group Announces Portfolio Company Add-On Acquisition
Tuesday, September 22, 2020
ComfortHost purchases all assets of Advantagecom Networks in a strategic deal to expand its global footprint.
NEW YORK, Sept. 14, 2020 /PRNewswire-PRWeb/ -- Cloud Equity Group, a New York-based private equity investment manager focused on leveraged buyouts of tech-enabled business service providers, and its portfolio company ComfortHost recently acquired the assets of Adantagecom Networks Inc. ("Advantagecom") in a strategic deal to expand ComfortHost's global hosting footprint. Advantagecom will maintain its own brand and will continue to be supported by the existing team.
The acquisition of Advantagecom is consistent with ComfortHost's strategy of providing a diversified hosting service offering across multiple geographical locations worldwide. ComfortHost is interested in customer service-focused hosting providers that can strategically help it to expand into new markets. Originally founded in 1995, Advantagecom Networks is based in Washington and operates out of its custom-built local datacenter facility to provide a variety of cloud, virtual private server, and web hosting services.
"The Advantagecom Networks acquisition represents a synergistic expansion of ComfortHost's geographical and product capabilities that compliments the company's strategic goal of being a diversified provider of all major hosting solutions," said Sean Frank, Managing Partner at Cloud Equity Group. With datacenters located across the United States, the United Kingdom, and the European Union, the Advantagecom acquisition will expand ComfortHost's global footprint into the Northwest region of the United States. This acquisition also adds new technology, such as hardware-based virtualized cloud infrastructure, to ComfortHost's existing service offerings.
"In nearly 25 years in the web hosting industry, Advantagecom Networks has launched some great ideas, created some dynamic technologies, refined processes, and serviced many really great customers. I am pleased that Cloud Equity Group and their affiliated companies can continue to provide great service to the customer base we built and expand the service available to these customers," said Andrew Kinney, Chief Technology Officer and President of Advantagecom Networks.
About Advantagecom Networks
Advantagecom Networks provides web hosting, virtualization, dedicated servers, and colocation with integrity. Because of its integrity, it does not claim to be perfect. However, when Advantagecom Networks has a problem that causes issues with a client's service, it owns up to it, provides a full analysis, and engineers a permanent solution whenever possible. Data shows that this approach has led to high reliability over the long term and has resulted in 1-minute resolution from 5 global locations and history back to 2007.
About Cloud Equity Group
Cloud Equity Group is a strategically positioned investment management firm capitalizing on the rapidly expanding industries of web hosting and cloud-based infrastructure. The company's primary focus is leveraging investor capital in the acquisition of private lower middle market companies that possess high levels of unlevered free cash flow and/or significant opportunity for exponential growth.
Investor Relations
P : (212) 618-1298
ir@cloudequitygroup.com
SOURCE Cloud Equity Group
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