7th Jul 2020 11:28
(Alliance News) - HgCapital Trust PLC on Tuesday said its manager, Hg, has invested in German emergency notification, crisis & incident management and critical communications company F24 AG.
HgCapital Trust itself will invest around GBP11 million along with other Hg clients via the Hg Mercury 2 Fund. HgCapital Trust allows private and institutional investors to participate in Hg investments.
The trust's liquid resources for future deployment currently stand at an estimated GBP123 million, 13% of the company's March 31 pro-formal net asset value of GP963 million.
The F24 investment will reduce the trust's outstanding commitments to invest in Hg transactions to around GBP916 million.
Hg will become Munich, Germany-based F24's main shareholder after acquiring a stake from current majority owner Armira.
"F24 partnered with Armira in 2017 and has since then more than doubled its sales by executing a successful growth strategy including three acquisitions and integrations. This transaction marks the end of the first phase of F24's buy-and-build strategy and a trusted cooperation between the two organisations. Following the transaction, the co-founder and chair of the supervisory board, Ralf Meister, will also be leaving the company," said Hg.
Shares in HgCapital Trust were down 0.7% at 241.70 pence in London on Tuesday morning.
By Anna Farley; [email protected]
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