(Alliance News) - Investment firm HgCapital Trust PLC on Friday said it will invest GBP7.4 million into Geomatikk Group, which provides computer processing, geographic information system and surveying services to firms in the Nordic region.
HGCapital Trust will be investing alongside its investment manager and software-focused investor Hg, which will make its own cash injection into Geomatikk through the Hg Mercury 2 Fund.
The full details of the transaction were not disclosed, but are subject to regulatory approvals.
The investment is expected to reduce HgCapital's outstanding commitments to invest in Hg transactions to GBP598 million.
"We are hugely impressed in what Knut and the Geomatikk team have built in the Nordics. Geomatikk provides a high value service protecting critical infrastructure in the region. By building a high-quality and increasingly tech-enabled product, Geomatikk is a leading European champion in this geographic information sector. We look forward to working with Knut and the entire Geomatikk team as we use our experience of scaling technology enabled businesses to support further growth," said David Issott, partner at Hg.
Shares in HgCapital Trust were down 0.3% at 303.50 pence on Friday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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HgCapital Trust plc (HGT)