Hg, the Manager of HgCapital Trust plc ("HGT"), today announces that it has agreed the sale of Achilles, a global leader and partner of choice for supply chain risk and performance management, to Bridgepoint, the international private assets fund management group.
The terms of the transaction have not been disclosed and completion is subject to closing conditions.
HGT, whose shares are listed on the London Stock Exchange, gives private and institutional investors the opportunity to participate in all Hg's investments.
This transaction values HGT's investment in Achilles at approximately £24.0 million. This would represent an uplift of £4.0 million (20% or 0.9 pence per share) over the carrying value of £20.0 million in the Net Asset Value ("NAV") of HGT at 31 August 2021.
Note that these figures only relate to HgCapital Trust's share of Hg's overall investment in Achilles.
Based on the 31 August 2021 reported NAV, the pro-forma NAV of the Trust is expected to be £1.65 billion (or 374.3 pence per share). HGT's liquid resources available for future deployment (including all announced transactions, and equity raised via tap issuance) are estimated to be £219 million (13% of the pro-forma 31 August 2021 NAV).
For further details:
Hg
Laura Dixon +44 (0)20 8396 0930
Brunswick
Samantha Chiene +44 (0)207 404 5959
Hg@brunswickgroup.com
About HgCapital Trust plc
HgCapital Trust plc, whose shares are listed on the London Stock Exchange (ticker: HGT.L), gives investors exposure through a liquid vehicle to a portfolio of high-growth private companies in the software and services sector. The selection of new investments and creation of value in these businesses are managed by Hg, 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.
The contents of the Hg, HgCapital Trust, Achilles and Bridgepoint are not incorporated into, and do not form part of, this announcement.
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