TIDMHGT 
 
RNS Number : 3976J 
HG Capital Trust PLC 
30 March 2010 
 

Set out below is the text of a press release issued today by HgCapital, which 
manages the investment portfolio of HgCapital Trust plc alongside those of other 
institutional clients. The Trust, which is a listed investment trust giving 
private and institutional investors the opportunity to participate in all 
HgCapital's investments, will invest at least GBP13.4m in StepStone. 
 
          HgCapital agrees the acquisition of StepStone Solutions for 
                          EUR110 million enterprise value 
 
London, 30 March 2010:  HgCapital, the European sector focused private equity 
investor, is pleased to announce that it has agreed the acquisition of StepStone 
Solutions, the Talent Management solutions division of StepStone ASA. The 
acquisition will be completed together with the current management team, led by 
Group Managing Director, Matthew Parker. 
 
HgCapital Trust plc is contributing at least GBP13.4m of the total EUR110m 
enterprise value. This is the Trust's second capital commitment within days, 
following HgCapital's investment into the commercial laundry business JLA last 
week. 
 
Over 1,400 organisations, including many of the world's leading businesses, use 
StepStone's Talent Management Solutions to recruit, retain and develop talent. 
StepStone Solutions is one of the biggest European SaaS (Software as a Service) 
companies with over 400 staff located in 16 countries across the globe. 
 
StepStone ASA is a wholly-owned subsidiary of Germany-based publishing and media 
company Axel Springer AG.  Axel Springer is retaining ownership of the online 
division of StepStone. 
 
This transaction is HgCapital's third SaaS technology acquisition in the last 
two years. HgCapital thereby continues its strong track record in backing 
European best-of-breed software companies with a strong subscription element who 
are clear market leaders in their field. 
 
Commenting on the acquisition, Kai Romberg, a director in HgCapital's TMT team 
said:"We are excited about the opportunity to back StepStone Solution's 
management team and help accelerate the company's growth both organically and by 
select add-on acquisitions, taking it to the next stage of its development. The 
business is a strong market leader in Europe and has achieved impressive levels 
of customer retention and subscription rates." 
 
Commenting on the acquisition, Matthew Parker, CEO of StepStone Solutions 
said:"The acquisition by HgCapital gives us a great opportunity to move on to 
the next phase in our development. The growth potential in the Talent Management 
space combined with HgCapital's track record and the great team at StepStone 
Solutions should prove to be irrepressible." 
"Since Axel Springer has set a clear strategic focus on online job boards for 
StepStone ASA, acquisition of the software division by HgCapital will allow the 
Solutions unit to enter a new phase of expansion under HgCapital's ownership," 
added Dr. Jens Müffelmann, Head of Electronic Media at Axel Springer. 
For further details: 
+----------------+--------------+------------------+ 
| HgCapital      | Kai Romberg  | +49 (0)89 2554   | 
|                |              | 95512            | 
+----------------+--------------+------------------+ 
| HgCapital      | Roger        | +44 (0)20 7089   | 
| Trust          | Mountford    | 7888             | 
+----------------+--------------+------------------+ 
| Maitland       | Neil Bennett | +44 (0)20 7379   | 
|                |              | 5151             | 
+----------------+--------------+------------------+ 
|                | Rowan Brown  | +44 (0)20 7379   | 
|                |              | 5151             | 
+----------------+--------------+------------------+ 
| StepStone      | Andrew       | +44 (0)1483 739  | 
|                | Rodaway      | 450              | 
+----------------+--------------+------------------+ 
 
About StepStone Solutions 
 
StepStone helps businesses get increased performance from their people, helps 
them build and develop global talent pools, and helps people find new jobs that 
match their talents. Across the world thousands of organisations rely on 
StepStone every day to improve their business performance and talent development 
strategies while millions of people rely on StepStone to improve their careers. 
StepStone delivers world class technology and services for finding, recruiting, 
retaining, managing and developing talented people. 
 
StepStone Solutions provides a complete suite of Talent Management software 
solutions. StepStone's on-demand (SaaS) software and services enable 
organisations to implement efficient processes, including; attraction and 
hiring, post-hire talent management, performance management, compensation 
management, skills and competency management, career and succession planning, 
training and development management. 
 
StepStone is a wholly-owned subsidiary of Germany-based publishing and media 
company Axel Springer AG. At the end of December 2009 more than 1,400 
organisations, including many of the world's leading businesses, use StepStone 
software and services. It operates in 17 countries and employs around 800 
people. Its global customers include Aviva, Deloitte, Deutsche Telekom, 
Lufthansa, McDonald's, Puma, ThyssenKrupp and Volkswagen. 
 
For more information see: www.stepstonesolutions.com 
 
About HgCapital Trust plc 
 
HgCapital Trust plc is an investment trust whose shares are listed on the London 
Stock Exchange. The trust gives investors exposure to a portfolio of high-growth 
private companies, through a liquid vehicle.  This portfolio is 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. The Trust has won the Investment Week Private Equity Investment Trust 
of the Year every year since 2005. 
 
For further details, see www.hgcapitaltrust.com 
 
About HgCapital 
 
HgCapital is a sector focused private equity investor in the European 
mid-market.  We focus on investments with an enterprise value in the range of 
GBP50-GBP500 million.  Our business model combines sector specialization with 
dedicated, pro-active support to our portfolio companies as well as the 
corresponding management expertise across all phases of the investment process. 
HgCapital manages more than GBP3 billion for some of the world's leading 
institutional and private investors. 
For further details, see www.hgcapital.com 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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