HgCapital Trust PLC Hg announces investment in JTL (8369P)
October 12 2023 - 2:00AM
UK Regulatory
TIDMHGT
RNS Number : 8369P
HgCapital Trust PLC
12 October 2023
Hg, the Manager of HgCapital Trust plc ("HGT"), today announces
an investment in JTL-Software-GmbH (JTL), a leading ERP software
provider specialising in e-commerce enablement solutions for small
and medium-sized businesses (SMB) across Germany.
The terms of the transaction are not disclosed.
HGT will invest approximately GBP8.1 million in JTL, 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 JTL.
HGT's liquid resources available for future deployment
(including all announced transactions, the undrawn bank facility
and the interim dividend payable in October 2023) are estimated to
be GBP664 million (31% of the pro-forma 31 August 2023 NAV of
GBP2.2 billion).
The investment will reduce HGT's outstanding commitments to
invest in Hg transactions to approximately GBP1.1 billion (49% of
the pro-forma 31 August 2023 NAV).
JTL secures investment from Hg
to fund further growth as a European champion in e-commerce
software
Hückelhoven, Germany - 12 October 2023: JTL-Software-GmbH (JTL),
a leading ERP software provider specialising in e-commerce
enablement solutions for small and medium-sized businesses (SMB)
across Germany, today announces that it has secured additional
investment from Hg, a leading investor in European and
transatlantic software and services businesses, to support JTL in
the next phase of its growth journey.
Based in Hückelhoven, Germany, and co-founded in 2008 by two
brothers, JTL provides ERP software solutions enabling businesses
to sell products online and offline. This product suite is the
backbone of a merchant's operations and automates their
mission-critical daily workflows, ranging from managing
distribution channels, order entry and warehouse management, all
the way to fulfillment. Today, JTL serves around 50,000 German SMBs
with a vibrant and unique user community and achieves strong
customer advocacy and retention rates.
Ralph Schweiker, CEO of JTL, said: "This investment from Hg
enables us to accelerate our growth without losing our focus to
create even better software solutions for our customers, which are
mission critical to the success of their business. Hg's track
record in growing and supporting ERP software businesses makes them
the perfect partner for us and we're incredibly excited about the
opportunities that their expertise and support are going to unlock
for the business."
The JTL founders said: "This is a fantastic opportunity for JTL.
We're so proud of everyone at the firm who have all contributed to
creating a valued software solution for thousands of businesses
across Germany. We are delighted to partner with Hg as leading
software investor and look forward to the opportunities that this
entails."
Hg will look to support JTL to continue its SaaS product
development and facilitate expansion opportunities regionally and
into adjacent sectors. ERP is one of Hg's most established areas of
focus, having invested around $8 billion globally over the last 19
years to grow several businesses in the ERP & Payroll
sector.
Benedikt Joeris, Partner at Hg, said: "ERP software is an area
we know very well and we have been focused on this sector for
almost two decades. This helps us to spot leading high-quality
businesses that have further potential. This is precisely what JTL
represents - a great business, with a very high-quality software
product and new opportunities for further expansion. We really look
forward to working with talented team across JTL."
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 and JTL websites are not
incorporated into, and do not form part of, this announcement.
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