11th Jul 2014 09:00
LONDON (Alliance News) - HgCapital Trust PLC said Friday it will contribute around GBP4.4 million to private equity firm HgCapital's acquisition of software and services provider Sequel Business Solutions Ltd.
The trust will invest in the company alongside other institutional clients of HgCapital.
HgCapital did not disclose the financial details of the acquisition. HgCapital Trust said the transaction will reduce its outstanding commitments to invest in HgCapital deals to around GBP228 million.
Sequel Business Solutions provides services and software to the Lloyd's of London and broader London insurance market. Its management team will retain a significant interest in the business.
Shares in HgCapital Trust were trading down 0.3% at 1,039.07 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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