HgCapital Trust invests in The Access Group
Hg, the Manager of HgCapital Trust plc ("HGT"), today announces a further investment in The Access Group, a leading provider of business management software to mid-market organisations.
Financial terms of the transaction, which is subject to customary regulatory approvals and is expected to close in the first calendar quarter of 2021, were not disclosed.
Note that The Access Group will shortly be making an announcement regarding its performance for the fiscal year ended June 30, 2020 on their website :
https://www.theaccessgroup.com/company/news/
HgCapital Trust plc will invest approximately £38.8 million in The Access Group, with other institutional clients of Hg investing alongside HGT through the Hg Genesis 8 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 The Access Group.
HGT's liquid resources available for future deployment (including all announced transactions and the interim dividend payable in October 2020) are estimated to be £159 million (14% of the 31 August 2020 pro-forma NAV of £1.16 billion, including the increase in equity via tap equity issues over the third quarter of 2020). In addition, HGT has access to an £200 million standby facility, which is currently undrawn.
The investment will reduce HGT's outstanding commitments to invest in Hg transactions to approximately £720 million (62% of the 31 August 2020 pro-forma NAV).
For further details:
Hg
Laura Dixon +44 (0)20 8396 0930
Brunswick
Samantha Chiene +44 (0)207 404 5959
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, HGT and Access websites are not incorporated into, and do not form part of, this announcement.
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