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HgCapital Trust PLC - participates in the investments of manager Hg - Will invest GBP6.6 million into entity formed through combination of payroll services provider BrightPay and post accounting software firm Relate Software, alongside other institutional clients of Hg.
The combined entity will be a software firm serving payroll and accounting bureaus across the UK and Ireland.
Hg will stand as a majority investor in the combined business.
Transaction values HgCapital's existing investment in BrightPay at GBP35.3 million, reflecting an uplift of GBP14.7 million.
Current stock price: 397.00 pence
Year-to-date change: up 30%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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