Strong activity across the portfolio

Strong activity across the portfolio

  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • Hg investment in DADA S.p.A

    26/02/2018 Hg today announces its investment in DADA S.p.A (DADA), a leading provider of online hosting services to SMEs in Italy, the UK and other regions across Europe. Founded in 1995, DADA is headquartered in Florence and has around 650,000 business and consumer customers across Europe. DADA’s digital services enable SMEs to administer their online presence: creating, managing and hosting domains and websites. As well as operating in Italy under the brand, DADA also operates in the UK, Ireland, Spain, France, Portugal and the Netherlands under the Namesco, Register365, Nominalia and Amen brands, respectively. The process follows an initial investment for a majority stake of 69.432% in DADA, made by Hg’s technology team in October 2017 and acquired from a subsidiary of Orascom TMT Investments. Hg has now successfully completed a tender offer on the remaining ordinary shares and will complete a public-to-private transaction of DADA from the Italian Stock Exchange. Hg is one of the leading investors in the tech sector in Europe, with over 25 years’ experience in the sector and 37 investments made in technology companies, bringing together a unique collection of networks and insight to create value and support business success. Nick Jordan, Partner at Hg said: “DADA is a leading business in this hosting sector which we have admired for a number of years. We are excited about the opportunity to work with the DADA management team and its employees to continue to develop their business in Italy and across Europe organically and through acquisitions. Hg have extensive experience of investing in SME-focused technology businesses and we are well placed to partner with DADA for the next phase of their growth.” Enrico Grasso, Director at Hg said: “We are delighted to partner with DADA’s talented management team to continue to support Italian SMEs in their journey to become more digitally enabled and increase their online visibility. This is Hg’s third investment in Italy over the last two years, testament to our continued interest in the region and Italian businesses. Italy has an important fabric of small and medium enterprises that have unique skills, know-how, and an opportunity to grow internationally.” Hg were advised by Linklaters, Banca IMI and Deloitte.

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  • Hg invests for the future by strengthening executive team

    14/02/2018 Nick Jordan, Thorsten Toepfer, Jean-Baptiste Brian and Andrew Jessop promoted to Partners at the Firm Dawn Marriott-Sims joins as Partner Caroline Ruter joins as Head of Responsible Investing Steven Batchelor promoted to Chief Operating Officer They join the current executive team, headed by Nic Humphries (Senior Partner) and led by a number of Managing Partners Hg is delighted to announce a series of promotions and appointments to its senior executive team as it looks forward to the next stage of growth. Nick Jordan, Thorsten Toepfer, Jean-Baptiste Brian and Andrew Jessop have been promoted to Partners at the Firm. Nick, a member of Hg’s TMT team, led the investments in Zitcom, Esendex, Mobyt and Dada on behalf of the Mercury funds. Thorsten, a member of Hg’s Services team, has been instrumental in Hg’s investments in JLA, A-Plan, Citation and Radius, as well as co-leading the creation of the Cogital Group. Jean-Baptiste has been heavily involved with Hg’s investment in Visma, as well as co-leading the investments in Ullink and Mitratech. Andrew, Hg’s General Counsel, has taken on overall responsibility for Operations at Hg, as well as leading the Legal & Compliance team. In addition to these promotions, Hg has appointed Dawn Marriott-Sims to Partner, having previously been part of Hg’s Operating Partner programme. Dawn was COO at Capita plc from 2014 to 2016, after originally joining the business in 2000; eventually directly managing over £3 billion of revenue and 75,000 people. Since leaving Capita two years ago, Dawn has brought considerable operational expertise and capability to new investments as well as the existing Hg portfolio. In-line with its ongoing commitment to responsible investing, Hg has appointed Caroline Ruter, as Head of Responsible Investing. Caroline joined Hg at the end of 2017, having previously been global head of supply chain sustainability at GlaxoSmithKline. These promotions and appointments both further strengthen the investment team at Hg and reinforce the focus on broader firm management, following the prior appointment of Matthew Brockman and Justin von Simson as Managing Partners and Steven Batchelor’s recent promotion to Chief Operating Officer at the end of 2017.

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  • Hg announces investment in

    09/01/2018 Hg has announced today an investment in (‘MeinAuto’), a leading B2C online platform for new car purchases based in Germany. The terms of the transaction were not disclosed. MeinAuto was founded in 2007 and is headquartered in Cologne with over 70 employees. The Company is one of Germany‘s leading online platforms for new car sales with over 16 million visitors per year and more than 9,000 dealers connected. The investment is the first step in an initiative by Hg to develop a new integrated and technology enabled service provider in the automotive distribution & financing space. This initiative is the result of considerable sector work undertaken by Hg in recent years in the automotive services and software spaces, including prior investments in Zenith (vehicle leasing services), Epyx (an electronic network serving vehicle fleet operators and repair shops), Eucon (a platform for automotive parts pricing data) and Parts Alliance (a buying group and distribution network for after-market car parts). Justin von Simson, Managing Partner and Head of the Munich Office at Hg, said: “We are delighted to partner with the management team of MeinAuto who have worked tirelessly over the last ten years to make the platform a true champion in the online automotive distribution space. As the online channel is gaining more and more importance for car distribution, we are excited about the opportunities that lie ahead for the business and together with the management team look forward to taking the platform to the next level of its evolution.” Florian Wolff, Director at Hg, commented: “The automotive distribution sector is experiencing a fundamental change. We believe this creates a strong opportunity for MeinAuto given its clear and differentiated value proposition which has allowed the business to build a strong position in the sector. Hg firmly believes in the potential of MeinAuto to leverage its value proposition to further develop and grow the platform in the future. The investment is a perfect example for our approach in partnering with strong entrepreneurs and backing them to scale high-quality technology businesses.” Alexander Bugge, Founder and Co-CEO at MeinAuto said: “In Hg we have found the right partner to take our company forward to its next level of development. Hg has deep sector knowledge and an excellent track record of building strong sustainable platforms.” Thomas Eichenberg, Co-CEO at MeinAuto added: “We are confident that, together with Hg, we will be able to provide even better experience to our customers and further expand our offering.”

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  • A look back at 2017 for Hg

    18/12/2017 It's been a busy year for Hg, take a look at our annual round-up to see what we've been up to. 

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  • Hg receives definitive binding offer from Itiviti to acquire Ullink

    28/11/2017 Hg has announced today that it has received a definitive binding offer from Itiviti, a company backed by Nordic Capital, to acquire Ullink. This proposed sale is subject to French workers' council consultations, and customary approvals, such as regulatory clearances. The terms of the transaction were not disclosed. Ullink provides mission critical electronic trading and connectivity solutions to the financial community globally. Based on its proprietary multi-asset trading technology and infrastructure, the company serves 2,000 clients in 40 countries and is acknowledged as a leader and innovator in the financial technology space. Hg initially invested in Ullink in 2014 and has been working with the management of the company since 2014 to build a leading FIX based trading community through strong organic growth and the acquisitions of NYFIX and Metabit. This original investment in Ullink by the Hg Technology Team followed many years of experience in Hg’s proven sector-focused approach of investing in leading global providers of vertical market application software. Ullink shares the core characteristics that Hg looks for: it provides an excellent platform for growth with a subscription revenue model across a diversified client base with a proven commitment to innovation. The realisation of Ullink would represent the second exit from the Hg 7 (2013) Fund, following the sale of P&I in November 2016, which together with a number of refinancings completed across the unrealised portfolio, has now delivered overall realised returns of 2.6x and a 36% gross IRR. The Fund has now returned in cash 41% of the original investment made. This proposed transaction follows the successful exits over 2017 year-to-date of Zenith, QUNDIS, Parts Alliance, e-conomic, Zitcom and Sequel Business Solutions, which have returned £1.3 billion to investors with an overall 3.0x investment multiple / 35% gross IRR. A number of further realisations from the Hg funds are anticipated over the coming months. Jonathan Boyes, Partner at Hg, said: “We are very pleased to have achieved an outstanding result for both Ullink and our Hg clients. This has been achieved through Ullink’s transformational merger with NYFIX and strong organic growth that followed as the management team professionalised the combined business. We wish Ullink’s management and employees every success as they enter their next phase of growth.” Jean-Baptiste Brian, Director at Hg, commented: “The proposed realisation of Ullink follows a successful partnership with the Company over the past 3 and a half years to build a leading global provider of electronic trading and connectivity solutions to the financial community both organically and through acquisition. We would like to thank the management and employees of Ullink for their outstanding work and effort to achieve this outcome.” Didier Bouillard, CEO at Ullink said: “The combination of Ullink and Itiviti would create a world-leader in Capital Markets technologies and services. Itiviti provides leading solutions in connectivity, market making and trading, with considerable expertise in the Derivatives space. Ullink’s core competence in High Touch and Low Touch OMS and our world-leading NYFIX network complement Itiviti’s solutions, and our capabilities in connectivity create a global powerhouse unrivalled in the industry.” Hg were supported by Credit Suisse, Skadden and Deloitte on the sale.

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  • Megabuyte50 Awards honour Foundry, IRIS and Esendex

    17/11/2017 The 2017 Megabuyte50 awards, held in London on Wednesday night, honoured three of our UK software company partners. The awards highlight the 50 best financially-performing, UK-based privately-owned technology companies and are compiled using Megabuyte’s independent and highly-regarded Megabuyte Scorecard benchmarking methodology. Foundry, IRIS and Esendex all found places on the list with Foundry also being named as ‘Best Performing Company: Specialist Applications’. The awards are judged on measures designed to reflect long-term sustainable growth. All three are application software businesses founded in the UK which have grown exponentially to become leading players in their sectors. Having three companies on the list also puts Hg at the top of the 2017 PE League Table. Working alongside businesses committed to growth and change to realise their full potential is where Hg lives. We have been partnering with European technology firms for over fifteen years and hope to redefine what the relationship means: focusing on sharing our know-how and experience; forming a community of like-minded businesses; and working collaboratively to stretch what was thought possible. Ian Spence, Founder and CEO of Megabuyte, commented on the awards: "As one of the most established and successful private equity investors in the UK tech sector, it is no surprise to see Hg at the top of the Megabuyte50 league table this year. Many congratulations to the team at Hg and to their portfolio companies for such an excellent performance." Nic Humphries, Managing Partner of Hg, said: “Congratulations to everyone at Foundry, IRIS and Esendex for their successes this year. We are delighted that they have been recognised amongst the strong field of UK technology. It’s great to see some of our newer partners excelling alongside those with whom we have worked for some time.”

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