Hg, the Manager of HgCapital Trust plc ("HgT"), today
announces an investment in CTAIMA and e-coordina, who join forces
to create leading Iberian contractor management, risk and
compliance software platform.
The terms of the transaction are not
disclosed.
HgT will invest approximately £11.5 million in CTAIMA and
e-coordina, with other institutional clients of Hg investing
alongside HgT through the Hg Mercury 4 Fund.
HgT, whose shares are listed on the London Stock Exchange,
gives private and institutional investors the opportunity to
participate in all Hg's investments.
Note that these figures only relate to HgT's share of Hg's
overall investment in CTAIMA and e-coordina.
HgT's liquid resources available for future deployment
(including all announced transactions, and the undrawn balance on
the bank facility) are estimated to be £496 million (21% of the
estimated 30 June 2024 NAV of £2.4 billion).
The investment will reduce HgT's outstanding commitments to
invest in Hg transactions to approximately £713 million (30% of the
estimated 30 June 2024 NAV).
CTAIMA and e-coordina join
forces and secure strategic investment from Hg
to create leading Iberian contractor management, risk and
compliance software platform
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CTAIMA and e-coordina will join
forces to create a contractor compliance champion in
Iberia.
-
Hg are backing co-CEOs Lorenzo
Zavala and Luis de los Santos to drive continued growth and
innovation.
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The new investment follows
significant growth for the businesses and will help further enhance
the product offering for valued customers and expand reach across
Europe and LatAm.
The investment is Hg's first platform investment in Iberia and
continues its focus on mission critical B2B compliance
software.
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Tarragona and San Sebastian,
Spain. 2 August 2024. CTAIMA, a
leading provider of software and specialised services for
contractor management, health & safety, ESG and compliance,
today announces that it has joined forces with e-coordina, a
leading provider of contractor management software and services in
Spain. As a result of this transaction Hg, a leading investor in
European and transatlantic software and services businesses, will
become a strategic investor in the combined business.
Headquartered in Tarragona, Spain,
CTAIMA was founded in 2003 as a consulting firm providing legal and
health & safety advice. Today the business has evolved into an
international SaaS platform and provider of contractor management
software, with one of the largest global networks of contractors
and suppliers, seamlessly connecting over 100,000 contractors and
subcontractors, with over 1,000 clients across 17 countries
worldwide.
Lorenzo Zavala, co-CEO of
CTAIMA, said: "Our mission is to
empower professionals to create safer and more responsible
organisations, with a commitment to every individual managing these
risks. Bringing CTAIMA and e-coordina together will create a
contractor compliance champion in Spain and Portugal, with a highly
complementary product suite and one of the largest combined
networks in the region, connecting 2,000 buyers with over 160,000
suppliers across Iberia."
Luis de los Santos, co-CEO of
CTAIMA, said: "This is a very
exciting day for us and an important milestone for both CTAIMA and
e-coordina. We are grateful to our teams, customers and partners,
who have been key in our trajectory of growth over the last two
decades and with whom we'll continue partnering to help
organisations become safer, more responsible and more sustainable.
Hg is a world-class software investor and their support and
experience will help us to reinforce this mission, enhancing our
service offerings and expanding into new regions."
Founded in 2007 and based in San
Sebastian, e-coordina is a leading provider of contractor
management software and services in Spain, providing customers with
supplier and external worker compliance management & access
control, as well as management of occupational risk
prevention.
Iñigo Martinez, founder of
e-coordina, said: "We're really
excited about joining forces with CTAIMA to create the best
platform in Iberia, bringing more innovation to benefit our many
thousands of buyers and suppliers, who are fulfilling highly
critical services every day."
CTAIMA has experienced rapid growth
in recent years, driven by its commitment to innovation and
customer satisfaction. Hg's investment will further support this
growth and expansion into new countries across Europe, enhancing
its product offering - including the integration of GenAI - and
reinforce CTAIMA's position as a leading provider of environmental,
risk and safety management software.
Christopher Fielding, Partner
and Louis Kinsella, Director at Hg, said: "Hg has been investing in legal and compliance software for
over two decades. This experience enabled us to identify CTAIMA and
e-coordina as high-quality businesses with enormous potential to
expand in this sector. We are also delighted to invest in our first
Spanish software platform and look forward to working with Lorenzo,
Luis and their stellar management team."
The terms of the transaction have
not been disclosed.
For further details:
Hg
Tom Eckersley
+44 (0)208 148 5401
HgCapital Trust
Laura
Dixon
+44 (0)20 8396 0930
Brunswick
Azadeh
Varzi
+44 (0)207 404 5959
Hg@brunswickgroup.com
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 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.
The contents of the Hg, HgCapital Trust, CTAIMA and
e-coordina's websites are not incorporated into, and do not form
part of, this announcement.