23rd Oct 2015 06:50
LONDON (Alliance News) - HgCapital Trust PLC on Friday said HgCapital, the manager of the trust, has agreed a deal to sell a minority stake in business critical asset maintenance service provider JLA.
In addition to the sale of the stake, the JLA has also been refinanced. Through the sale and the refinancing, HgCapital Trust will receive a total of GBP17.3 million.
HgCapital first acquired JLA in March 2010. The company provides commercial laundry and catering equipment to SMEs in the UK. Following the sale, it will retain a 62% stake in the business.
The identity of the buyer of the stake was not disclosed.
By Sam Unsted; [email protected]; @SamUAtAlliance
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