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(Alliance News) - Private equity firm Oakley Capital Investments Ltd said on Thursday it will sell its stakes in web hosting automation software company WebPros Group to private equity firm CVC Fund VII, with its share of proceeds being GBP110 million.
The sale will see Oakley Capital's net asset value go up 26 pence per share, an 8% increase from June 30 when NAV was GBP3.18 per share.
Shares in the company were 6.0% higher at 253.80 pence per share on Thursday in London.
Peter Dubens managing partner of Oakley Capital, commented: "The success of WebPros is the result of many features typical of an Oakley investment. A partnership with entrepreneurs we have backed before, a buy-and-build strategy which tackled a high degree of complexity and a sector in which we have deep experience. We would like to thank the team for all their hard work and look forward to supporting the business in its next phase of growth alongside CVC."
By Ife Taiwo; ifetaiwo@alliancenews.com
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