Last checked at 
9 Nov 2018 09:28
Hg Capital Trust plc
Hg agrees the sale of Atlas to Mintra Group a portfolio company of The Riverside Company
Hg, the Manager of HgCapital Trust plc ("the Company"), has agreed the sale of Atlas, a specialist Learning Technology Services business, offering learning solutions to safety critical industries, to Mintra Group a leading provider of e-learning and HR related solutions to the global oil & gas, maritime, construction and renewables market, and a portfolio company of The Riverside Company, a global private equity firm.
The terms of the transaction were not disclosed.
This transaction values the Company's investment in Atlas at approximately £10.7 million. This would represent an uplift of £2.9 million (37%) over the carrying value of £7.8 million in the Net Asset Value ("NAV") of the Company at 31 October 2018.
Based on the 31 October 2018 NAV, the Company's liquid resources available for future deployment, including all announced transactions, are estimated to be £148 million (19% of the pro-forma 31 October 2018 NAV of £769.7 million). In addition, the Company has access to an £80 million standby facility, which is currently undrawn.
For further details:
Hg
Laura Dixon | +44 (0)20 7089 7888 |
Maitland
Vikki Kosmalska and Seda Ambartsumian | +44 (0)20 7379 5151 |
About HgCapital Trust plc
HgCapital Trust plc, whose shares are listed on the London Stock Exchange (ticker: HGT.L), gives investors exposure through a liquid vehicle to a portfolio of high-growth private companies in the technology and tech-enabled sector. The selection of new investments and creation of value in these businesses are managed by Hg, an experienced and well-resourced private equity firm with a long-term track record of delivering superior risk-adjusted returns for its investors. For further details, please see www.hgcapitaltrust.com.
About Atlas
Atlas Knowledge is a leading provider of digital learning solutions to safety critical industries worldwide. For over 20 years, Atlas has served the learning and compliance needs of standards bodies, regulators and more than 1,700 corporate customers, including 6 of the top 10 largest energy companies in the world. From its headquarters in Aberdeen, Atlas' management systems and portfolio of 1,000+ eLearning courses are accessed across 110+ countries, online and through our Global Partner Network of over 100 resellers and training centres. Every 90 seconds, a course is completed online with Atlas Knowledge. To date, we have helped more than 800,000 learners to stay safe, develop skills and verify their competence. www.atlasknowledge.com
About The Riverside Company
The Riverside Company is a global private equity firm focused on making control and non-control investments in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 560 transactions. The firm's international portfolio includes more than 80 companies.
The contents of the HgCapital Trust, Atlas and The Riverside Company, a global private equity firm, websites and any website accessible from hyperlinks on such websites (or any other website) are not incorporated into, and do not form part of, this announcement.