18th Apr 2019 08:40
LONDON (Alliance News) - HgCapital Trust PLC's manager Hg on Thursday said HgCapital has agreed to make a further GBP19.5 million investment in business-critical software provider Visma.
HgCapital Trust will be investing alongside the Hg Saturn Fund, other Hg-managed vehicles, and the Canada Pension Plan Investment Board.
Hg is already the majority owner of Visma. Hg Saturn and its investors have agreed to a further EUR640 million equity investment, with CPPIB contributing EUR110 million as part of this transaction.
Following the completion of the investment, Hg's managed funds will own 63% of Visma, while HgCapital Trust's holding in Visma will represent 21%.
"I'm delighted two world-class investors, Hg and CPPIB, have decided to invest further in the company," said Visma Chief Executive & Chair Oystein Moan.
"To have a partner with this background is a significant advantage for any management team and this experience has helped Visma on every step of our growth."
"We are proud to have been by Oystein and Visma's side every step of the way on this exciting journey for the last 13 years and many more in the future," added Hg Saturn Fund Senior Partner & Head Nic Humphries.
HgCapital Trust shares were trading 0.6% higher on Thursday morning at 2,141.80 pence each.
Related Shares:
HgCapital Trust plc