San Mateo, CA—February 11, 2020 —Sumeru Equity Partners (SEP), a growth-focused technology investment firm, today announced the initial public offering (IPO) of Locaweb Servicos de Internet SA (BVMF:LWSA3), a portfolio company of SEP’s predecessor fund, Silver Lake Sumeru, on Bovespa, the Sao Paulo stock exchange.
Locaweb is a pioneer in B2B solutions for digital business transformation in Brazil, offering a diverse portfolio of integrated products that help customers build their business and thrive through the use of technology. Locaweb’s offerings include web hosting, domain registration and SaaS solutions for email, productivity, e-commerce, electronic payments and digital marketing. The company has more than 300,000 customers throughout Latin America. Locaweb posted revenues of 314.9 million reals (US$75.04 million) and net income of 11.1 million reals (US$2.7 million) in the first nine months of 2019.
Locaweb priced its IPO on February 4 at 17.25 reals per share, at the top of the range, raising 1.03 billion reals (US$240.7 million).
Other predecessor fund portfolio companies to go public include BlackLine (Nasdaq: BL), Spansion, SMART Modular Technologies (Nasdaq: SGH) and Talend (Nasdaq: TLND).
About Sumeru Equity Partners
Sumeru Equity Partners is a technology-focused private equity firm that invests in middle market companies across software, technology-enabled services and hardware. The firm employs a growth-oriented partnership model with technology companies and typically invests $25-200 million per transaction. The firm was founded in 2014 by an experienced team from Silver Lake Sumeru, a private equity fund started in 2007 within Silver Lake. Sumeru Equity Partners utilizes extensive operating and investment experience in partnership with management teams to drive company growth and build strategic value. For more information please visit sumeruequity.com and www.locaweb.com.br.
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