Squarespace Announces Take-Private Deal in Major LBO


SAN FRANCISCO, Calif. Tuesday, May 21, 2024 – Website building platform Squarespace is set to go private in the second-largest leveraged buyout (LBO) of the year, according to a report by Yahoo Finance.1

A consortium of private credit firms will provide a $2.7 billion loan package to facilitate the deal, with existing investors General Atlantic and Accel expected to reinvest.

The transaction is anticipated to close by the fourth quarter of 2024.

This move by Squarespace signifies a significant shift in the company’s direction.  While details remain undisclosed, the hefty LBO suggests Squarespace may be seeking greater flexibility outside the public market to pursue strategic growth plans.

The deal itself is noteworthy, ranking as the second-largest LBO of 2024 so far.

This highlights the continued appeal of leveraged buyouts for companies seeking alternative funding options.

Sources
  1. finance.yahoo.com: https://finance.yahoo.com/news/squarespace-private-second-biggest[↩]
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