14th May 2018 09:17
LONDON (Alliance News) - HgCapital Trust PLC on Monday announced both a new investment and the disposal of investee JLA to Cinven.
HgCapital said the transaction valued its investment in JLA at around GB34.2 million, though it did not disclose the terms of the deal. The sale delivered a 4.9x investment multiple, it said, and an approximate 26% gross internal rate of return.
It will realise cash proceeds of approximately GBP4.8 million once completed.
JLA is an equipment provider to the commercial laundry, catering, heating, and fire safety industries in the UK.
The new investment announced Monday is in FE, a data, analytics, and software firm focusing on the retail investment funds markets in the UK and Australia.
The terms of the deal were also not disclosed, though Hg said the investment will be made from its Mercury 2 fund.
HgCapital shares were up 1.0% on Monday at a price of 1,946.00 pence each.
Related Shares:
HgCapital Trust plc