HGT Hg Capital Trust Plc

 

TIDMHGT 
 
RNS Number : 2064L 
HG Capital Trust PLC 
04 May 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 approximately GBP12.0 million in Frösunda. 
 
 HgCapital acquires Frösunda from Polaris 
 
London, 4 May 2010:  HgCapital, the European sector focused private equity 
investor, is pleased to announce that it has agreed the acquisition of Frösunda 
LSS AB, the leading Swedish provider of specialist disability care. The 
transaction is subject to regulatory approval. The company has been acquired 
from Polaris, the Danish private equity firm. The value of the transaction was 
undisclosed. 
 
Frösunda, headquartered in Solna, Sweden, was originally a subsidiary of the 
health care services co-operative, Praktikertjänst. It became an independent 
business, backed by Polaris, in 2007. Frösunda provides personal assistance 
(care delivered to the home) and housing (group assisted accommodation) services 
for adults and children with physical or mental disabilities. It also has an 
emerging coaching and schools business. Frösunda cares for 1,600 users and 
operates 41 offices across Sweden. 
 
HgCapital will be working with the existing management team to continue to 
develop Frösunda as an independent business and the leading provider of 
specialist care in Sweden. HgCapital fully supports management's strategic 
objectives of maintaining organic growth, continuing to grow by acquisition and 
further investment to diversify the company's care offering. 
 
This transaction is the second investment made by HgCapital's specialist 
healthcare sector team in the last six months. Carl Harring executed the 
transaction for HgCapital as part of an exclusive bid process. 
 
Commenting on the acquisition, Lindsay Dibden, Partner of HgCapital and Head of 
the Healthcare team stated: "The HgCapital healthcare team has followed the 
Scandinavian market for several years based on the favourable macro 
demographics, high quality companies, and the strong trend towards outsourcing. 
Our sector experience and knowledge of Nordic investing meant we were able to 
proactively identify the key sub sectors we wish to deploy capital in, namely 
specialist care. 
 
Carl Harring, who led the transaction for HgCapital added,"Frösunda provides the 
broadest care offering in the Swedish specialist care market and has an 
excellent management team. This investment represents an attractive opportunity 
to build on the company's impressive track record in its current markets and to 
enable it to expand its care offering into adjacent segments." 
 
Göran Fredriksson, CEO of Frösunda added:"Over recent years Frösunda has 
undergone extensive re-organisation and established an excellent reputation in 
delivering the highest quality of care in Sweden. We are pleased to be able to 
draw on HgCapital's sector expertise and financial backing in working towards 
the next stage in the company's evolution." 
 
                                    - Ends - 
 
 
For further details: 
+--------------------+--------------------+--------------------+ 
| HgCapital          | Carl Harring       | +44 (0)20 7089     | 
|                    |                    | 7935               | 
+--------------------+--------------------+--------------------+ 
| Maitland           | Neil Bennett       | +44 (0)20 7379     | 
|                    |                    | 5151               | 
+--------------------+--------------------+--------------------+ 
|                    | Rowan Brown        | +44 (0)20 7379     | 
|                    |                    | 5151               | 
+--------------------+--------------------+--------------------+ 
 
 
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 specialisation 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 GBP3 billion for some of the world's leading institutional and 
private investors. 
For further details, see www.hgcapital.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 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 ACQURONRRUASOAR 
 

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