Endurance International Group $685 million senior notes offering
Davis Polk advised the initial purchasers on a Rule 144A / Regulation S offering by Endure Digital, Inc., to be merged with and into Endurance International Group Holdings, Inc. (“Endurance”), of $685 million aggregate principal amount of its 6.000% senior notes due 2029. The notes constituted a portion of the debt financing provided to investors Clearlake Capital Group, L.P. (“Clearlake”) and Siris Capital Group, LLC (“Siris”) in connection with the acquisitions of Endurance and Web.com Group, Inc. (“Web.com”), and a business combination thereof. As part of the transactions, Endurance’s digital marketing segment was separated from Endurance through the spin-off of Constant Contact, Inc.
Founded in 2006, Clearlake is a leading investment firm operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with world class management teams by providing patient, long-term capital to dynamic businesses that can benefit from its operational improvement approach, O.P.S. Clearlake currently has approximately $25 billion assets under management and its senior investment team has completed 200+ investments since 2006 with core target sectors including: technology, industrials and consumer.
Founded in 2011, Siris is a leading private equity firm that invests primarily in mature technology and telecommunications companies with mission-critical products and services, facing industry changes or other significant transitions. Siris’ development of proprietary research to identify opportunities and its extensive collaboration with its Executive Partners are integral to its approach. Siris’ Executive Partners are experienced senior operating executives that actively participate in key aspects of the transaction lifecycle to help identify opportunities and drive strategic and operational value.
Endurance Web Presence is a leading provider of hosting and domain registration solutions that help small- and medium-sized businesses, or SMBs, succeed online. Endurance Web Presence serves approximately 4.5 million subscribers globally with a range of products and services that help SMBs get online, get found and grow their businesses. Endurance Web Presence’s strategic brands include the Bluehost, HostGator and Domain.com brands.
Web.com is a leading platform that enables businesses to establish, maintain, promote and optimize their online presence. Headquartered in Jacksonville, Florida, Web.com offers domain registration, hosting, website and marketing services for businesses globally. For more than 20 years, the company has provided more than three million customers with competitive online solutions to support their changing business needs and drive results.
The Davis Polk capital markets team included partner Shane Tintle and associates Jose Lucena-Rebollo and Adam Greene. Partner Michael Farber and associate Ben Levenback provided tax advice. The intellectual property and technology transactions team included partner Pritesh P. Shah and associate Mikaela Dealissia. The executive compensation team included partner Adam Kaminsky, counsel Charles Shi and associate Nadia Raynes. Members of the Davis Polk team are based in the New York, Madrid and Washington DC offices.