BV Investment Partners has completed the recapitalization of INetU, a provider of managed hosting and cloud services to enterprise customers. The investment in INetU will make BV the majority shareholder and is being made in partnership with INetU’s founder and CEO, Dev Chanchani, who will continue as President and CEO and remain a significant shareholder in the company.
“Our new partnership with BV will help accelerate our growth initiatives and we look forward to continuing to provide our customers with world class services and new innovative business cloud solutions,” said Mr. Chanchani. “BV has a long history of successfully partnering with and growing founder-owned companies, and my senior management team and I look forward to working with them.”
INetU is a managed hosting and cloud services provider delivering secure, high performance and reliable hosting for businesses worldwide. The company supports many mission critical websites and applications globally across numerous sectors, including eCommerce, healthcare, financial services, software as a service, education, and government. INetU was founded in 1996 and is headquartered in Allentown, PA (www.inetu.net).
“INetU provides a comprehensive suite of complex hosting services including a number of compliance, security and other specialized solutions. We believe the rapid growth in data generation and the proliferation of web-based applications and services are changing the way companies address their IT infrastructure needs,” said Louis Bertocci, a Managing Director at BV. “INetU is truly a value added partner providing mission critical IT services to a large and growing customer base.”
INetU will be the first investment in BV’s latest investment vehicle, BV Fund VIII. “We are delighted to start the investment program of Fund VIII with INetU,” said Vik Raina, a Managing Partner of BV. “This investment is consistent with our strategy of partnering with fast growing, founder-owned businesses in the communications and information and business services industries and helping them to achieve their growth plans.”
BV Investment Partners makes investments in US based companies active in the information and business services, communications and media industries. The firm is currently investing its eighth private equity fund and since its founding in 1983, the firm has invested $2.6 billion in 75 companies. BV Investment Partners has offices in Boston and New York (www.bvlp.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-9-13
