HgCapital Trust PLC - participates in the private equity investments of manager Hg - Invests GBP5.2 million in ProcessMAP Corp, a Sunrise, Florida-based provide Environmental, Health & Safety-based software platform, alongside other institutional clients of manager Hg through the Hg Mercury 3 fund.
Terms of the transaction were not disclosed, however ProcessMAP's management will keep a significant stake in the business.
"The impressive work from Dave Rath, Jagan Garimella, and the team means that ProcessMAP is well-positioned to benefit from this dynamic. They've built a high-quality platform which receives consistent, strong feedback from a loyal customer base. We believe that together, Hg and ProcessMAP, will form a strong partnership and we look forward to supporting the team, investing in the business and continuing to realize its growth potential," says Ben Meyer, partner at Hg.
Current stock price: 442.50 pence
12-month change: up 38%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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HgCapital Trust plc (HGT)