21st May 2015 07:40
LONDON (Alliance News) - Private equity firm HgCapital Thursday bought London-based visual effects firm The Foundry Visionmongers Ltd from The Carlyle Group for GBP200 million.
HgCapital said the investment is in line with its approach of investing in leading providers of vertical market application software. It plans to work closely with The Foundry's management team to help it drive its rate of organic growth, and will work with it to potentially engage in value adding mergers and acquisitions.
HgCapital Trust PLC will invest GBP19.7 million in The Foundry via its HgCapital 7 Fund. The investment will be the fifth investment by the HgCapital 7 Fund, it said, and after completion the fund will be around 41% invested.
The Foundry's software products have been used in a number of films, including blockbusters 'Avatar' and 'Guardians of the Galaxy.'
Shares in HgCapital Trust are trading flat at 1,086.00 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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