Hg Capital Trust PLC has announced the sale of its remaining investment in TeamSystem to funds advised by Hellman & Friedman LLC. TeamSystem is a prominent provider of business software solutions in Italy, Spain, and Turkey. Hg first invested in TeamSystem in 2010 as a majority shareholder, and this transaction values HgT's investment in TeamSystem at approximately £24.3 million, representing an uplift of £2.2 million over the carrying value of £22.1 million in the Net Asset Value of HGT at 31 March 2024.
The sale marks the conclusion of Hg's successful partnership with TeamSystem and H&F, who have supported TeamSystem to become a leading business software solutions provider in the mentioned regions. HgT, listed on the London Stock Exchange, provides private and institutional investors the opportunity to participate in all Hg's investments. The pro-forma NAV of HgT is expected to be £2.3 billion, with available liquid resources estimated to be £601 million, representing 26% of the pro-forma 31 March 2024 NAV.
HgCapital Trust plc, listed on the London Stock Exchange, offers investors exposure through a liquid vehicle to a portfolio of high-growth private companies in the software and services 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.