May 9, 2017 | Deals

GCA Altium advises Parallels on its sale of Plesk to Oakley Capital

GCA Altium acted as exclusive financial advisor to the Parallels Group on the sale of the assets and operations of Plesk to Oakley Capital Investments Limited’s (AIM:OCL) fund Oakley Capital Private Equity III at an enterprise value of USD 105m. Fund III has invested USD 27.4m for a 51% controlling stake in the business.

Parallels, an independent vendor of cross platform applications and virtualization, acquired Plesk in 2003. Today Plesk employs c. 181 people worldwide.

Plesk is one of the most widely used control panels and software platforms for simplifying the lives of web professionals. Its web-server management tools secure and automate server and website administration as well as operations. Key features include the automation and management of domain names, email accounts, web applications, programming languages, databases and infrastructure tasks to provide a ready-to-code environment and strong security across all layers and operating systems. The Plesk software platform operates on more than 350,000 servers globally, supporting the operations of more than 10m websites and 18m email boxes. Plesk is available in 32 languages globally and many of the top cloud and hosting service providers partner with Plesk.

The investment in Plesk represents another primary, proprietary deal in one of Oakley’s core sectors, originating from long-standing relationships within the hosting industry.

Ezequiel Steiner, CEO of Parallels Holdings, commented: “Parallels is very pleased to continue its strategy of focusing on its core virtualization technology. The sale of Plesk marks another milestone in this process and we believe this is the best move for the long-term benefit of Plesk’s employees, customers and partners.”

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