18th May 2023 10:33
(Alliance News) - HgCapital Trust PLC on Thursday said it will invest in treasury, payments and risk management provider GTreasury in the US.
The London-based investment vehicle that provides shareholders access to the unquoted businesses managed by New York-based Hg said it will invest around GBP9.8 million in the Chicago-based company.
HgCapital said institutional clients of Hg have invested alongside HgCapital, through the HG Mercury funds.
GTreasury Chief Executive Renaat Ver Eecke said: "This is a great moment for the team at GTreasury as it will support further product development and geographic expansion, helping us to continue innovating and bringing new products and features to an ever-growing customer base. Hg's global software specialization and deep knowledge in this area will help accelerate this strategy significantly."
Ben Meyer, partner at Hg commented: "Renaat leads an impressive team in a high-quality business, providing a leading solution in what is a fast-growing segment. We are excited to partner with Renaat and his team, and to work together with Mainsail, to support them in further scaling GTreasury as a TMS industry champion."
HgCapital shares were up 0.7% to 376.00 pence each in London on Thursday morning.
By Harvey Dorset, Alliance News reporter
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