Hg announces investment in Nomadia

HgCapital Trust PLC

20 July 2023

 

Hg, the Manager of HgCapital Trust plc ("HGT"), today announces an investment in Nomadia, a leading European SaaS provider of smart mobility solutions.

The terms of the transaction are not disclosed.

HGT will invest approximately £6 million in Nomadia, with other institutional clients of Hg investing alongside HGT through the Hg Mercury 3 Fund.

HGT, whose shares are listed on the London Stock Exchange, gives private and institutional investors the opportunity to participate in all Hg's investments.

Note that these figures only relate to HGT's share of Hg's overall investment in Nomadia.

HGT's liquid resources available for future deployment (including all announced transactions, the undrawn bank facility) are estimated to be £659 million (30% of the pro-forma 31 March 2023 NAV of £2.2 billion).

The investment will reduce HGT's outstanding commitments to invest in Hg transactions to approximately £1.0 billion (47% of the pro-forma 31 March 2023 NAV).

HGT will be announcing its interim results to 30 June 2023 on 18 September 2023.

Nomadia secures investment from Hg
to help build a European leader in smart mobility and field service management software

Paris, France. 20^th July 2023. Nomadia, a leading European SaaS provider of smart mobility solutions, announced that it has secured a majority investment from Hg, a leading investor in European and transatlantic software and services businesses. As part of this transaction, the Nomadia management team and former majority owners will continue as investors in the business.

Headquartered in France, Nomadia's mobile applications and SaaS solutions enable companies to plan and optimize their mobile workers' travel and activity in real-time. Its solutions address the daily needs of mobile professionals such as technicians, sales representatives and delivery drivers. Nomadia delivers tangible ROI to its clients including material productivity gains and can reduce CO2 emissions by up to 30%. It serves over 2,200 clients and more than 188,000 users across 28 countries.

Fabien Breget, CEO of Nomadia, said: "This investment from Hg is both a testament of Nomadia's leading position and a recognition of the great work from our team. We were impressed by Hg's depth of expertise, agility in execution and partnership mindset. Hg brings a network of talent, significant financial capital and decades of experience in scaling premium software businesses. This partnership represents a formidable springboard to accelerate our development, product innovation and international ambition."

Nomadia sits at the core of Hg's experience in ERP & Payroll software, where it currently has over €7 billion capital at work. Over the past 12 months, Hg has raised over €20 billion additional capital for new investments and recently opened an office in Paris, France, to further accelerate its activity in the region.

Alexandre Flavier, Partner at Hg, said: "We are delighted to partner with Fabien and his talented team. We were impressed by the quality of their products, the strength of their clients' feedback, and the impact of their mission: to enable mobile workforces to gain productivity while increasing safety standards and reducing CO2 emissions. We look forward to helping them build a European champion, accelerating their growth at scale and beyond borders."

Going forward Hg's investment and expertise will be used to support Nomadia's investment in R&D and product innovation, including in AI, IoT and machine learning. The company will be able to leverage best practices from the Hg portfolio, notably in go-to-market, operational excellence, and tech platform roadmap, and capitalize on access to Hg's deep network of talent. Hg will also support Nomadia's international growth, both organically and via acquisitions, to reinforce the business' leadership position in Europe.

For further details:

Hg

Tom Eckersley                                                                                     [phone]

HgCapital Trust

Laura Dixon                                                                                         [phone]

Brunswick

Azadeh Varzi                                                                                       [phone]

[e-mail]

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 and Nomadia websites are not incorporated into, and do not form part of, this announcement.

 

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