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

-     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.

-     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.

-    

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.