Cinven has continued a run of acquisitions for its fifth fund with the purchase of Host Europe Group from Montagu Private Equity for £438 million, taking the total value of deals for the fund to an estimated €3.6 billion over the past 14 months.

Host, a provider of internet domains and hosting services under the brands 123-reg, Webfusion, Heart Internet and Host Europe, has 1.5 million customers mainly across Germany and the UK, according to a statement from Cinven.