HgCapital ANNOUNCES INvESTMENT IN E-CONOMIC
19 August 2013
HgCapital, the Manager of HgCapital Trust plc has announced the acquisition of e-conomic, a leading provider of SME SaaS accounting services in Europe, for an undisclosed amount.
HgCapital Trust plc will participate in the acquisition of e-conomic alongside other institutional clients of HgCapital. 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 £11.5 million of equity to this transaction.
Based on the 31 May 2013 reported Net Asset Value and adjusting for the impact of all post May reported transactions, including this acquisition, liquid resources are estimated to be £123.0 million (26% of the 31 May 2013 pro-forma NAV). The transaction reduced the Trust's outstanding commitments to HgCapital funds to £314.5 million. The cash proceeds received from the sale of ATC, which completed in August 2013 have been included in the above number.
Please find the text of a press release issued today by HgCapital announcing the transaction via the following link:
http://www.hgcapital.com/content/news-media/news.
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For further details:
HgCapital
Stephen Bough +44 (0)20 7089 7888
Maitland
Peter Ogden +44 (0)20 7379 5151
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's, HgCapital Trust's nor e-conomic'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.