29th Jan 2019 09:15
LONDON (Alliance News) - Investment firm Hg Capital Trust PLC said Tuesday it will invest GBP35 million in a cloud-based logistics platform through its investment manager, whilst the trust expects to get GBP14 million through the restructure of its insurance brokerage holding.
The manager of the trust - Hg - announced that it will invest in logistics software firm Transporeon Group for an undisclosed amount. This will see Hg Capital Trust invest GBP35.0 million in Transporeon with further investment received from other fund clients of Hg.
"We have been tracking Transporeon for many years," Hg investment managers Stefan Margolis, Justin von Simson and Jean-Baptiste Brian said. "We believe that it is a very unique platform, with significant further organic growth potential, at the forefront of freight industry digitalisation. Using its cloud-based technology solutions, Transporeon helps to reduce complexity and increase efficiency, in what is still a highly inefficient, large, fragmented global logistics market."
Separately, Hg Capital Trust explained it will receive GBP13.7 million in cash from its stake in high-street insurance broker A-Plan following a refinance undertaken by investment manager Hg.
In total, including all announced transactions, Hg Capital Trust has GBP135 million in liquid resources for future deployment. This is equivalent to 17% of its pro-forma net asset value of GBP777 million.
Hg Capital Trust also has an undrawn standby lending facility of GBP80 million.
Shares in Hg Capital Trust were up 0.3% at 1,975.00 pence on Tuesday.
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