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HostMySite.com Web Hosting Company, to be Acquired by Wachovia Capital Partners

Wed, 11th June 2008, 01:25

Web hosting solutions firm, HostMySite, Inc., will be acquired by private equity investing firm, Wachovia Capital Partners (WCP). Terms of the acquisition, handled for HostMySite.com by DH Capital, were not disclosed

HostMySite.com is a leading hosting provider, delivering highly scalable hosting solutions including managed hosting, dedicated hosting, virtual private servers, and shared hosting.

Wachovia Capital Partners partnered with experienced industry executives, Art Zeile and Joel Daly earlier this year with a goal of acquiring and building a leading managed hosting company. Art Zeile and Joel Daly were the founders of Inflow, an IT services company managing 14 datacenters, which was sold to SunGard Availability Services in 2005. Wachovia Capital Partners was the first and largest investor of Inflow.
With this acquisition, the executives will assume the roles of CEO and COO of the company.

HostMySite.com was founded in 1997, by Lou Honick and Neil Heuer, now totalling over 250 employees, 4,000 servers and state of the art datacenter facilities. Following the transaction, Lou Honick will become the Chief Strategy Officer.

Mr. Honick explained, ''With greater access to financial capital, HostMySite.com will continue as a leader in our industry. We believe that we have great prospects for growth and can further expand our reputation for quality of service, deep expertise, and solid execution. We value the breadth of industry experience that Wachovia Capital Partners brings to the table having invested in hosting services companies for over a decade. We believe in this market and our opportunities are significantly enhanced with the backing of a strong financial partner.''

Mr. Zeile added, ''We are incredibly proud of what Lou Honick and Neil Heuer have created. The culture of HostMySite.com is one of intense focus on the customer. Customer satisfaction will remain our top priority.''

Wachovia Capital Partners is the private equity investing arm of Wachovia Corporation, the fourth largest bank holding company in the U.S. Since the group's inception in 1988, WCP has invested in excess of $3.5 billion of private equity capital on behalf of Wachovia. WCP's current investment portfolio is comprised of 43 companies. WCP is making this investment from WCP II, L.P., a $1.8 billion fund.

HostMySite.com was founded by partners Lou Honick and Neil Heuer in 1997. The foundation of the culture at HostMySite.com is a management driven commitment to complete customer satisfaction. HostMySite.com provides individuals, small businesses, and large corporations with affordable dedicated servers, VPS hosting, and ColdFusion hosting, supported by 24x7x365 live support through toll-free telephone, email, and live online chat.

(The Hosting News) - June 5, 2008