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HgCapital Trust PLC on Wednesday said its manager Hg agreed to the partial sale of its investment in team.blue to the Canada Pension Plan Investment Board. HgCapital is an investment firm headquartered in London that participates in the private equity investments of Hg. After first investing in the Gent, Belgium-based digital solutions provider in 2019, Hg will sell part of its stake so that team.blue can benefit from investment to drive the company’s growth strategy, HgCapital said. Whilst the full terms of the transaction weren’t disclosed, it values team.blue at €4.8 billion, making it one of the largest privately owned technology companies in Europe. HgCapital’s previous investment in team.blue was revalued at £95.0 million as part of the deal teams, reflecting a 30% uplift of £21.8 million from £73.2 million at March 31. Following the sale, HgCapital will receive £32.6 million, leaving the trust with remaining holding in team.blue valued at £62.4 million. HgCapital Trust shares were up 1.5% to 494.42 pence each in London on Wednesday morning. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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