Oakley Capital Private Equity III (“Fund III”) is pleased to announce an agreement to invest in cPanel.
WebPros BV, the holding company that owns Plesk and Solus VM, is acquiring a majority stake in cPanel from its founder J. Nick Koston. Fund III first invested in WebPros in April 2017 in order to acquire Plesk, which has performed very strongly since. The transaction is partly funded by an extension of the unitranche debt facility from WebPros’ existing lender TPG. Fund III will make a further investment of $50 million into WebPros as part of this transaction. The transaction is subject to regulatory approval.
Established in 1997 by CEO J. Nick Koston, cPanel provides one of the internet infrastructure industry’s most reliable and intuitive control panel software platforms. With its rich feature set and customer first support, the fully-automated hosting platform empowers infrastructure providers and gives customers the ability to administer every facet of their website using simple, point-and-click software. Based in Houston, Texas, cPanel employs over 220 colleagues and has customers in more than 70 countries.
