GREENWICH, Conn. - December 16, 2013 - Littlejohn & Co., LLC, a private
investment firm based in Greenwich, CT, today announced the acquisition of
Hostway Corporation, a leading provider of hosted information technology
solutions to over 500,000 small and medium-size businesses and enterprise
customers. Littlejohn will serve as an active shareholder and board of directors
in support of the Company's plan to capitalize on the tremendous demand for
hosted IT solutions.
Hostway delivers customized Infrastructure-as-a-service (IaaS) and Cloud
solutions, a robust suite of web presence and web optimization solutions, hosted
exchange and a variety of other value-added applications and services in
customizable managed, shared, cloud or hybrid environments. Hostway has one of
the industry's broadest, most reliable and customizable hosting platforms,
allowing it to serve start-ups, small and medium size businesses and large
enterprises wherever they are in their IT lifecycles. Hostway has also developed
unique, proprietary solutions for Telecos, VARs, Integrators, MSPs and other
channel partners, which allow them to easily integrate Hostway's solutions into
their own offerings, including branded white label solutions.
Michael Kaplan, Managing Director of Littlejohn & Co., said, 'Tremendous demand
for traditional outsourced IT solutions and emerging demand for Software and
Platform as a Service is fueling the growth of the hosting industry. Hostway
serves as a great platform to capitalize on this opportunity due to its unique
hosting platform, world class customer service and robust data center
infrastructure. We look forward to working with Hostway's management to
accelerate growth by continued investment in Hostway's technology platform,
enhancing its sales and marketing efforts and selectively making acquisitions
targeted at enhancing the customer experience.'
John Martis, President of Hostway, said, 'We are extremely pleased to partner
with Littlejohn and gain access to additional resources to help us grow our
managed, cloud and web hosting businesses. The Littlejohn Team has deep
experience growing businesses across a variety of industries and can help us
further differentiate our offerings and build on our customer base.'
Cowen and Company, LLC acted as exclusive financial advisor to Littlejohn on the
transaction. DH Capital, LLC acted as exclusive financial advisor to Hostway on
the transaction.
About Littlejohn & Co., LLC
Littlejohn & Co. is a Greenwich, Connecticut-based private equity firm investing
in middle-market companies that are undergoing a fundamental change in capital
structure, strategy, operations or growth that can benefit from its operational
and strategic approach. The firm is currently investing from Littlejohn Fund IV,
L.P., which has over $1.3 billion in capital commitments. For more information,
visit www.littlejohnllc.com.
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