Web Presence Market Leader Poised for Accelerated Growth
SANTA MONICA, Calif. and NEW YORK and JACKSONVILLE, Fla., Jan. 5, 2021 /PRNewswire/ -- Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake") announced today it has signed an agreement for a strategic investment in Web.com Group, Inc. ("Web.com" or the "Company"). Affiliates of Siris Capital Group, LLC ("Siris"), which acquired the Company in 2018, will remain significant equityholders in the platform together with Clearlake. Financial terms of the transaction were not disclosed.
Headquartered in Jacksonville, Florida, Web.com is a leading platform that enables businesses to establish, maintain, promote, and optimize their online presence. Web.com offers domain registration, hosting, website, and marketing services for businesses globally. For more than 20 years, the Company has provided more than three million customers with competitive online solutions to support their changing business needs and drive results.
"Web.com provides market-leading web presence services in an attractive market segment that is seeing strong growth driven by accelerating digital transformation of small-and-medium sized businesses," said James Pade, Partner, of Clearlake. "We look forward to partnering with Siris and leveraging Clearlake's O.P.S.® playbook to accelerate growth."
"This investment recognizes the strong execution of the Web.com team in providing best-in-class web presence solutions and delivering profitable growth," said Tyler Sipprelle, Managing Director, of Siris. "Web.com has bright prospects as a global, multi-brand web technology company, and we welcome Clearlake's support of the business's future growth."
Web.com Group is a leading web technology company serving millions of customers around the world. Through our portfolio of brands – Network Solutions, Register.com, Web.com, CrazyDomains – we help customers of all sizes build an online presence that delivers results. Web has the breadth of capabilities and depth of knowledge to be your go-to partner in today's always-on digital world. With our extensive product offerings and personalized support, we take pride in partnering with our customers to serve their online presence needs. Learn more at www.web.com.
Clearlake Capital Group, L.P. is a leading investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S.® The firm's core target sectors are technology, industrials and consumer. Clearlake currently has approximately $25 billion of assets under management and its senior investment principals have led or co-led over 200 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.
Siris is a leading private equity firm that invests primarily in mature technology and telecommunications companies with mission-critical products and services, facing industry changes or other significant transitions. Siris' development of proprietary research to identify opportunities and its extensive collaboration with its Executive Partners are integral to its approach. Siris' Executive Partners are experienced senior operating executives that actively participate in key aspects of the transaction lifecycle to help identify opportunities and drive strategic and operational value. Siris is based in New York and Silicon Valley and has raised nearly $6 billion in cumulative capital commitments. www.siris.com.
Lambert & Co.
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SOURCE Clearlake Capital Group