HgCapital announces investment in EidosMedia

RNS Number : 3141H

HgCapital Trust PLC

30 November 2015

 

HgCapital, the Manager of HgCapital Trust plc ("The Trust"), today announces a majority investment in EidosMedia, a leading global provider of digital publishing solutions. The terms of the transaction were not disclosed.

HgCapital Trust plc will invest in EidosMedia, headquartered in Milan, alongside other institutional clients of HgCapital, who will participate through the HgCapital 7 Fund. The Trust, whose shares are listed on the London Stock Exchange, gives private and institutional investors the opportunity to participate in all HgCapital's investments. The Trust will contribute a total of approximately £8.3 million.

The acquisition of EidosMedia represents the sixth investment by the HgCapital 7 Fund and, following completion, the Fund will be approximately 46% invested.

Based on the 31 October 2015 reported NAV (including all announced transactions) the Trust's liquid resources available for future deployment are estimated to be £45.6 million (10% of the 31 October 2015 NAV, excluding a £40 million standby facility). The transaction will reduce the Trust's outstanding commitments to invest in HgCapital deals to approximately £157 million (33% of the 31 October 2015 NAV).

EidosMedia receives new investment from HgCapital

A change of majority ownership for the creators of the Méthode digital publishing platform

EidosMedia has today announced the acquisition of a majority holding in the company by European mid-market private equity firm HgCapital. The company, whose digital publishing solutions power many of the world's leading news-media operations, joins other industry-leading technology companies in HgCapital's TMT portfolio. Previous investors in EidosMedia include Wise Sgr and Aksia Group Sgr. EidosMedia's management team will be reinvesting in the business. The terms of the transaction were not disclosed.

HgCapital operates a sector-focused investment strategy aimed at identifying companies aspiring to become industry champions with potential for further growth.

"We are delighted that HgCapital has chosen to make this investment in the future of EidosMedia," said Gabriella Franzini, EidosMedia CEO. "We have a closely shared vision of the company's future development and HgCapital will be able to provide the support and resources needed to achieve those objectives."

Jean-Baptiste Brian, a Director in the HgCapital TMT team, said:

"EidosMedia is a unique and high-quality business offering flexible software solutions to some of the world's largest media and financial services companies. We look forward to working closely with the management team to expand their current offering. This is a fantastic addition to our portfolio of software assets."

The investment from HgCapital will enable EidosMedia to consolidate its position in digital publishing solutions within the news media and financial sectors, while continuing to work on a new generation of products that offer unprecedented power and flexibility in digital content management and delivery.

Credit Suisse acted as advisor to HgCapital on this transaction.

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For further details:
HgCapital
Laura Dixon	[phone]
Maitland
Jamie Dunkley	[phone]
Tom Eckersley	[phone]

About HgCapital Trust plc

HgCapital Trust plc is an investment trust whose shares are listed on the London Stock Exchange (ticker: HGT.L). The Trust is a client of HgCapital, giving investors exposure to a portfolio of high-growth private companies, through a liquid vehicle. New investments and existing portfolio companies are managed by HgCapital, an experienced and well-resourced private equity firm with a long-term track record of delivering superior risk-adjusted returns for its investors. For further details, please see www.hgcapitaltrust.com.

Neither the contents of HgCapital Trust's, HgCapital's or EidosMedia's websites nor the contents of any website accessible from hyperlinks on the websites (or any other website) is incorporated into, or forms part of, this announcement.

 

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