Private equity firms Carlyle and N+1 Mercapital have exited their investment in Spanish information, communications and technology (ICT) services provider Arsys, which was acquired by United Internet subsidiary 1&1.
Arsys, which provides web hosting and domain registration services in Spain, France and Portugal, posted revenues of more than €40m last year.
Carlyle and Mercapital bought Arsys for €160m in 2007 in a deal which saw founders Luis Ignacio Cacho and Nicolás Iglesias retain a minority stake.
N+1 Mercapital managing partner David Estefanel said, “The integration of Arsys is 1&1 has been possible due to the strengths of the company, and the success of the strategy carried out since our entry.
“More importantly, it is also a clear proof of the growing interest of international investors in Spain, where there still a large number of middle market companies which, as Arsys, are flexible, competitive, and leaders in their market niche.”
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