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Prices & Quotes - UK Markets - HGCapital Trust (HGT)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 338.00p
Change Today:
0.50p
Market Cap:
1,451.03m
Sector:
Equity Investment Instruments

HgCapital to benefit from sale of German legal tech firm STP

By Josh White

Date: Monday 02 Nov 2020

LONDON (ShareCast) - (Sharecast News) - HgCapital Trust said on Monday that Hg has agreed the sale of STP, a provider of legal technology solutions in the Austria, Germany and Switzerland (DACH) area, to Bregal Unternehmerkapital, part of a multi-generational family-owned business that specialises in majority and minority holdings in the region.
The FTSE 250 company said the terms of the transaction were not disclosed, and added that it remained subject to customary antitrust approvals, with closing expected later in the year.

Founded in 1993 and based in Karlsruhe, Germany, STP was described by Hg as a "leading one-stop shop solution provider", providing an integrated legal technology platform comprising workflow automation, ERP software, specialist technical outsourcing and data businesses.

It said STP's solutions were "deeply embedded" in the insolvency ecosystem and commercial law segment, with a full-suite offering.

The business employs around 200 people, serving more than 1,800 customers with "critical" software and services for their daily workflow.

Hg first invested in STP in 2016, together with founder Gunther Thies, and since then had worked with the STP team and helped strengthen its position in legal tech in the DACH region.

"STP has significantly benefited from Hg's support over the last four years, leveraging the knowledge they have in the software and legal tech space, whilst also benefiting from valuable best-practice sharing that is promoted across Hg's network and over 30 tech portfolio businesses," said chief executive officer Uwe Richter.

"We are very excited about our new partnership with Bregal Unternehmerkapital and together plan an acceleration of new product and service introductions to help our customers drive efficiency at the workplace."

Stefan Margolis, partner at Hg, said the company was "happy" to have supported STP and helped to strengthen its position as legal technology provider.

"It has been a real privilege to work with Gunther, Uwe, Frank, Harald and the team.

"We are delighted to leave the business in such capable hands for future growth."

At 0945 GMT, shares in HgCapital Trust were up 0.58% at 298.72p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

HGCapital Trust Market Data

Currency UK Pounds
Price 338.00p
Change Today 0.50p
52 Week High 353.00p
52 Week Low 235.50p
Volume 911,830
Shares Issued 429.30m
Market Cap 1,451.03m

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What The Brokers Say

Strong Buy 0
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 1
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

HGCapital Trust Dividends

  Latest Previous
  Final Interim
Ex-Div 29-Apr-21 24-Sep-20
Paid 28-May-21 30-Oct-20
Amount 3.00p 2.00p

Trades for 22-Jun-2021

Time Volume / Share Price
16:35 152,334 @ 338.00p
16:29 75 @ 337.00p
16:29 535 @ 338.00p
16:26 322 @ 337.50p
16:17 3,175 @ 337.50p

HGCapital Trust Key Personnel

Chair Jim Strang