December 5, 2019 / 10:29 AM / 2 months ago

Oakley to sell Swiss webhosting software maker WebPros - sources

FRANKFURT, Dec 4 (Reuters) - Oakley Capital is putting Swiss webhosting software maker WebPros up for sale in a potential $1.2-1.5 billion deal as the private equity firm seeks to cash in on a rise in sector valuations, people close to the matter said.

Oakley, which is working with investment bank Arma Partners on the deal, has approached private equity firms including Permira, Cinven, Hellman & Friedman, EQT and Advent over their potential interest in WebPros.

Oakley, Arma, Permira, Cinven, Hellman & Friedman, EQT and Advent declined to comment.

WebPros, which Oakley bought in 2017, has annual earnings before interest, tax, depreciation and amortization of $100 million to $110 million, the people said.

German software firm Teamviewer, which was floated on the stock exchange in September, and on Wednesday qualified for inclusion in Germany’s midcap index, trades at about 30 times its expected core earnings.

First round bids for WebPros are due this month, one source said.

WebPros makes software for the automation of server tasks for hosting providers and web professionals, allowing customers to administer websites easily. (Reporting by Arno Schuetze; Editing by Alexander Smith)

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