HgCapital Trust plc Regulatory News (HGT)

HG Capital Trust plc 

24 April 2015

HgCapital, the Manager of HgCapital Trust plc ("The Trust"), today announces an investment in Eucon, a leading provider of automotive parts pricing data and insurance claims management services, based in Germany.

This transaction marks the sixth investment on behalf of the HgCapital Mercury Fund which targets lower mid-market buyouts in selected TMT sub-sectors across Europe.

HgCapital Trust plc will invest in Eucon alongside other institutional clients of HgCapital, who will participate through the HgCapital Mercury Fund. The Trust, whose shares are listed on the London Stock Exchange, gives private and institutional investors the opportunity to participate in all HgCapital's investments. The Trust will contribute a total of approximately £4.3 million.

Based on the 31 March 2015 reported NAV (and after adjusting for the impact of all post-31 March transactions) the Trust's liquid resources available for future deployment are estimated to be £45 million (10% of the 31 March 2015 NAV). The transaction will reduce the Trust's outstanding commitments to invest in HgCapital deals to approximately £184 million.

HgCapital announces investment in Eucon

24 April 2015:HgCapital has today announced an investment in Eucon, a leading provider of automotive data and insurance claims management services, in partnership with the management team and founders who retain a significant interest in the business. The investment was made from HgCapital's Mercury Fund which focuses on backing growth buyouts in the software and technology enabled services sectors in Europe. The terms of the transaction were not disclosed.

Founded in 1997 by brothers, Marcel and Maurice Oosenbrugh, Eucon is a leading provider of automotive parts pricing data & services to vehicle and parts manufacturers globally. The business is also a leading provider of highly automated claims management services to insurers in Germany. In the automotive data business, Eucon collects, processes and supplies crucial data to help its customers manage their parts and aftermarket operations. In the insurance claims management business, Eucon supports insurers to achieve lasting reductions in claims expenditure through sophisticated automation of claims processes and the application of structured data. Eucon has c. 250 staff and is headquartered in Germany with offices in the USA, Rumania and Brazil serving nearly 200 clients operating in 40 countries.

The investment in Eucon results from considerable sector work undertaken in recent years in automotive information and software and follows prior investments in the automotive space including: Epyx (an electronic network serving vehicle fleet operators and repair shops); Parts Alliance (a buying group and distribution network for after-market car parts) and ZenithLeasedrive (vehicle leasing services). HgCapital also has considerable experience in insurance software and broking having invested in Relay software (broking and underwriting software), Sequel Business Solutions (complex risk software) and A Plan (leading UK broker of personal lines insurance) in the last year.

HgCapital will support Eucon's founders and management in continuing to add global reach to bring its expertise in software and data to add further functionality for all of its customers.

Kai Romberg, a partner in the HgCapital TMT team, said:

"Eucon is a very high-quality data business offering attractive growth prospects both in the automotive and insurance sectors. We are excited about the opportunity to back Eucon's Founders, Marcel and Maurice Oosenbrugh who have worked tirelessly with their management team to create a formidable industry champion. We look forward to partnering with them to expand the company's product offering and grow its international presence transforming the business into a global sector champion."

Marcel and Maurice Oosenbrugh, Co-founders of Eucon, said:

"In HgCapital we have found a true partner who we believe is best suited to take our company forward to its next level of development. HgCapital has deep sector knowledge and an excellent track record of building strong sustainable businesses. We are confident that together we will be able to provide an even more improved service to our clients and further expand our offering internationally."

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For further details:

HgCapital

Stephen Bough +44 (0)20 7089 7888

Maitland

Peter Ogden +44 (0)20 7379 5151

Tom Eckersley +44 (0)20 7379 5151

About HgCapital Trust plc

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

Neither the contents of HgCapital's, HgCapital Trust's or Eucon's websites nor the contents of any website accessible from hyperlinks on the websites (or any other website) is incorporated into, or forms part of, this announcement.