HgCapital Trust plc Regulatory News (HGT)

Hg, the Manager of HgCapital Trust plc (the "Company"), has announced today an investment in IT Relation, a leading Danish supplier of managed IT services to small and medium sized enterprises (SMEs). The terms of the transaction were not disclosed.

HgCapital Trust plc will invest approximately £16.0 million in IT Relation, with other institutional clients of Hg investing alongside the Company through the Hg8 Fund.

The Company, whose shares are listed on the London Stock Exchange, gives private and institutional investors the opportunity to participate in all Hg's investments.

Based on the 30 April 2018 NAV, the Company's liquid resources available for future deployment, including all announced transactions, are estimated to be £184 million (25% of the pro-forma 30 April 2018 NAV of £742.6 million). In addition, the Company has access to an £80 million standby facility, which is currently undrawn. The investment will reduce the Company's outstanding commitments to invest in Hg transactions over the next four to five years to approximately £534 million.

Hg invests in IT Relation

14 June 2018. Hg today announces that it has agreed to invest in IT Relation, a leading Danish supplier of managed IT services to small and medium sized enterprises (SMEs).

Hg will acquire a majority stake in IT Relation from Adelis Equity Partners. The closing of the transaction is subject to regulatory approval and the terms are not disclosed.

Founded in 2003, IT Relation provides services which allow SMEs to move their IT infrastructure and operations into the cloud, as well as providing end user support and consulting as part of a full-service IT offering. The company has more than 450 employees supporting thousands of customers and tens of thousands of users in Denmark and around the world.

This investment is consistent with Hg's focus on SME Technology Services in Europe, with other activity in this sector including investments in Zitcom (2015) and DADA (2017), both providers of online hosting services to SMEs. Hg will support the management team to build a clear industry champion based on IT Relation's excellent customer service and operating platform.

Nick Jordan, Partner and Jonas Samlin, Principal, at Hg, said: "Henrik Kastbjerg and the IT Relation management team have built an exceptional business addressing the need for SMEs to operate their mission-critical IT in the cloud. We look forward to partnering with the business in the next phase of growth in Denmark and internationally."

Henrik Kastbjerg, CEO of IT Relation said: "It has been a great journey with Adelis and now we are very excited about the next phase with Hg. Hg has a proven track record of investing in and developing tech and software companies and can support our further growth in Denmark as well as internationally."

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About HgCapital Trust plc

HgCapital Trust plc is an investment trust whose shares are listed on the London Stock Exchange (ticker: HGT.L). The Company is a client of Hg, giving investors exposure to a portfolio of high-growth private companies, through a liquid vehicle. New investments and existing portfolio companies 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 .

 The contents of the Hg, HgCapital Trust, Adelis and IT Relation 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.