REG - Princess Private Eq. Princess Priv E-PEYS - Sale of Civica

Princess Private Equity HoldingAnnouncement

22/11/2023 11:30

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RNS Number : 3402U  Princess Private Equity Holding Ltd  22 November 2023

(LSE: PEYS/PEY)

Princess Private Equity Holding Limited

 

Sale of Civica

 

Princess Private Equity Holding Limited is pleased to inform you that Partners
Group, Princess' Investment Manager, is selling Civica, a global provider of
cloud software solutions for the public sector, to Blackstone.

·    Over 6,000 organisations use Civica's solutions to deliver critical
services

·    Civica has high customer retention rates and benefits from strong
recurring revenues

·    Partners Group acquired Civica in 2017 and transformed it into a pure
software business

·    As of 30 September, Civica represented 2.8% of Princess' NAV

·    Completion of the transaction is subject to customary regulatory
approvals and closing is expected in Q2 2024

Headquartered in the UK, Civica provides cloud software solutions to over
6,000 organisations across seven countries that deliver critical services to
citizens. Civica's solutions are designed to help public bodies, including
local councils, government departments, health and social care providers, and
schools, operate more effectively through automating and streamlining
services. The company has a comprehensive product portfolio covering workflow
and automation, risk and compliance, workforce management, financial
management, and data analytics and insights. Given Civica's role in supporting
the delivery of critical services, the company maintains high customer
retention rates and benefits from strong recurring revenues. Civica is
well-positioned to continue capitalising on broad growth trends within the
software market as organisations look to further digitise to provide better
services and save money.

Partners Group acquired Civica in 2017 and has since transformed the company
into a pure software business, pivoting away from its previous services such
as IT management. This has driven Civica's strong growth, with EBITDA doubling
since Partners Group's investment. During Partners Group's ownership, Civica
has accelerated organic top line growth, developed a cloud offering, built out
its offshore R&D operations, and executed 24 highly complementary add-on
acquisitions. Together with the management team, Partners Group has also
defined overarching functional priorities that will guide Civica's next phase
of growth.

Ends.

About Princess

Princess is an investment holding company founded in 1999 and domiciled in
Guernsey. It invests in private equity direct investments. Princess is managed
in its investment activities by Partners Group, a global private markets
investment management firm with USD 142 billion in investment programs under
management in private markets, of which USD 74 billion in private equity.
Princess aims to provide shareholders with long-term capital growth and an
attractive dividend yield. Princess is traded on the Main Market of the London
Stock Exchange (ticker: PEY for the Euro Quote; PEYS for the Sterling Quote).

 

Contacts

Princess Private Equity Holding Limited:

princess@partnersgroup.com

www.princess-privateequity.net

 

 Investor relations contact:            Media relations contact:

 Sarah Page                             Jenny Blinch

 Phone: +44 20 7575 2695                Phone: +41 41 784 65 26

 E-mail: sarah.page@partnersgroup.com   E-mail: jenny.blinch@partnersgroup.com

 

 

Registered Number: 35241   LEI: 54930038LU8RDPFFVJ57

Notes:

1.     Note that references in this announcement to Princess Private
Equity Holding Limited have been abbreviated to "Princess" or "Company".
References to Partners Group AG have been abbreviated to "Partners Group " or
"Investment Manager".

2.     This document does not constitute an offer to sell or a
solicitation of an offer to buy or subscribe for any securities and neither is
it intended to be an investment advertisement or sales instrument of Princess
Private Equity Holdings. The distribution of this document may be restricted
by law in certain jurisdictions. Persons into whose possession this document
comes must inform themselves about and observe any such restrictions on the
distribution of this document. In particular, this document and the
information contained therein is not for distribution or publication, neither
directly nor indirectly, in or into the United States of America, Canada,
Australia or Japan.

3.     This document may have been prepared using financial information
contained in the books and records of the product described herein as of the
reporting date. This information is believed to be accurate but has not been
audited by any third party. This document may describe past performance, which
may not be indicative of future results. No liability is accepted for any
actions taken on the basis of the information provided in this document.
Neither the contents of Princess' website nor the contents of any website
accessible from hyperlinks on Princess' website (or any other website) is
incorporated into, or forms part of, this announcement.

 

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