REG - HgCapital Trust PLC - Hg announces investment in JTL

HgCapital TrustAnnouncement

12/10/2023 07:00

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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 £8.1 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 £664 million (31% of the
pro-forma 31 August 2023 NAV of £2.2 billion).

 

The investment will reduce HGT's outstanding commitments to invest in Hg
transactions to approximately £1.1 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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