REG - HgCapital Trust PLC - Hg announces an investment in Payworks

HgCapital TrustAnnouncement

Mon 11:00

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RNS Number : 3946Y  HgCapital Trust PLC  08 September 2025

Hg, the Manager of HgCapital Trust plc ("HgT"), today announces an investment
in Payworks.

 

The terms of the transaction are not disclosed.

 

HgT will invest approximately £17 million in Payworks with other
institutional clients of Hg investing alongside HgT through the Hg Genesis
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 Payworks.

HgT's liquid resources available for future deployment (including all
announced transactions and the £375 million credit facility of which £28
million was drawn at the time of this announcement) are estimated to be £366
million (15% of the estimated 30(th) June 2025 NAV of £2.5 billion).

The investment will reduce HgT's outstanding commitments to invest in Hg
transactions to approximately £1.7 billion (70% of the estimated 30(th) June
2025 NAV).

 

HgT will announce its interim results to 30 June 2025 on 15(th) September.

 

Payworks announces strategic investment from Hg

 

Partnership further strengthens position as a leading Canadian provider of
human capital management solutions

 

Winnipeg, MB - September 8(h) - Payworks, a Canadian leader in total workforce
management, has entered a strategic partnership with Hg, a leading software
and services investor with deep expertise in human capital management (HCM).

 

The partnership marks a defining milestone in Payworks' 25-year trajectory,
fast-tracking the company's growth, diversification and leadership strategy
across the sector. By combining Payworks' local expertise with Hg's
specialization in scaling software businesses, the investment will help to
drive enhanced product development, expansion across the Canadian HCM
landscape, and an elevated client experience.

 

"For 25 years, Payworks has been building proprietary workforce management
solutions tailored to Canadian employers," said Barbara Gamey, Co-founder of
Payworks. "The Payworks ownership group is excited to welcome Hg to our
partnership. Their investment enables us to accelerate our innovation and
value creation agenda, positioning Payworks for sustained leadership and
diversification in the Canadian market."

 

Payworks' operations in Canada remain unchanged. Its team of more than 600
employees and network of offices across the country continue to support the
company's strategy, anchoring growth in service to Canadian businesses and
their employees.

 

"We're thrilled to partner with Payworks. In our research we surveyed more
than six hundred payroll and HR customers in Canada and found that Payworks
has a best-in-class product with the highest customer satisfaction. We look
forward to supporting the business in its next era of growth." said Alexander
Johnson and Hector Guinness at Hg.

 

"Payworks' track record of serving Canadian businesses, combined with our
global HCM and software expertise, creates an exciting opportunity to
accelerate innovation and reach more Canadians" added Robert Citrino,
Principal at Hg.

 

Terms of the transaction were not disclosed.

 

-Ends-

 

For further information, please contact:

HgCapital Trust
Laura Dixon

laura.dixon@hgcapital.com (mailto:laura.dixon@hgcapital.com)

+44 78 2459 2894

 

George Crowe

george.crowe@hgcapital.com (mailto:george.crowe@hgcapital.com)

+44 7774 617 150

 

Cadarn
Lucy Clark
lucy@cadarncapital.com (mailto:lucy@cadarncapital.com)

+44 (0)7984 184 461

 

David Harris
david@cadarncapital.com (mailto:david@cadarncapital.com)

+44 (0)7368 883 211

 

Hg
Tom Eckersley

tom.eckersley@hgcapital.com (mailto:tom.eckersley@hgcapital.com)

 

Sam Ferris

sam.ferris@hgcapital.com (mailto:sam.ferris@hgcapital.com)

 

About HgCapital Trust plc

HgCapital Trust plc is an investment company whose shares are listed on the
London Stock Exchange (HGT.L). HGT gives investors exposure, through a liquid
vehicle, to a portfolio of high-growth unquoted companies, 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, see www.hgcapitaltrust.com
(http://www.hgcapitaltrust.com) and www.hgcapital.com
(http://www.hgcapital.com)

 

About Payworks

Payworks, headquartered in Winnipeg, Manitoba, is a Canadian leader in total
workforce management. We provide payroll, HR, time and attendance, and
workforce analytics solutions to over 40,000 businesses nationwide, all backed
by expert, dedicated support. Recognized as one of Canada's Best Managed
Companies every year since 2012 and a three-time recipient of Canada's Top
Small & Medium Employers designation, Payworks is proud to combine
innovation with a strong commitment to clients, employees, and communities
across the country.

 

About Hg

Hg is a leading investor in transatlantic software and services businesses. We
help to build sector-leading enterprises that supply critical software
applications or workflow services to deliver intelligent automation for their
customers.

 

We take an active approach to value creation, combining deep end-market
knowledge with world class operational resources to provide compelling support
to entrepreneurial leaders looking to scale enduring businesses.

 

Headquartered in the UK, with a vast European network and strong presence
across North America, Hg has approximately $100 billion in assets under
management and more than 400 employees. Our portfolio spans more than 50
companies worth over $160 billion in aggregate enterprise value, employing
more than 126,000 people and consistently growing revenues at more than 20%
annually.

 

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