Audax Group (“Audax”) announced it has completed the sale of The Endurance International Group (“Endurance”) to Accel-KKR. Based in Burlington, Massachusetts, Endurance is a leading provider of subscription-based, shared web site hosting and other online applications and services to individuals and small-to-medium sized businesses. With 24 branded properties, Endurance serves over 600,000 accounts worldwide. Audax, together with management, acquired the company in May 2003 and subsequently sourced and integrated 17 add-on acquisitions.
Geoffrey S. Rehnert, Co-Chief Executive Officer, Audax Group, said “Steve Sydness and his team did an outstanding job working together with Audax to source and integrate 17 add-on acquisitions during our ownership period, building Endurance into a leader in the shared web hosting market. We wish Steve and his team continued success.”
Steve Sydness, Chief Executive Officer of Endurance, said “It has been a great experience working with Audax Group. Their expertise in sourcing, executing, and integrating add-on acquisitions was a key to helping us grow our business. We look forward to continuing to build the business and retaining a significant equity stake in the company.”
Ropes & Gray LLP advised Audax Group. Piper Jaffray & Co. advised Endurance.