European private equity firm Hg, which focuses on the technology, services and industrial technology space, is investing an undisclosed sum in mass hosting services company Combell Group.
Belgium-based Combell provides web hosting, domains, e-commerce and application solutions to more than 800,000 small and medium-sized enterprises, and small office/home office clients across Europe.
Waterland Pvt. Equity Investments BV will exit its investment in Combell as part of the deal.
The transaction is subject to regulatory approval and will close in 2019.