|
HgCapital Trust PLC on Monday said it will sell its remaining investment in enterprise software firm TeamSystem as part of overall disposal by manager Hg. The London-based investment vehicle, which provides access to the private equity investments of Hg, said the sale was to funds advised by Hellman & Friedman LLC. HgCapital said the transaction values its investment in TeamSystem at about £24.3 million, an uplift of 10% over the carrying value of £22.1 million in the net asset value of HgCapital at March 31. HgCapital noted that Hg invested in TeamSystem in 2010 as a majority shareholder, before H&F bought a majority stake in 2016. ‘Hg’s investment in TeamSystem has benefitted from a great partnership with the TeamSystem management team and H&F, who have together supported TeamSystem to become a leading business software solutions provider in Italy, Spain and Turkey,’ HgCapital said. HgCapital shares were 0.6% higher at 487.94 pence each on Monday morning in London. Copyright 2024 Alliance News Ltd. All Rights Reserved.
|
