02 August 2013
02 Aug 2013
HgCapital, the Manager of HgCapital Trust plc, has today announced the acquisition of Nair & Co, a UK headquartered provider of tailored solutions for fast growing companies looking to expand into international markets. Nair & Co sets up the required international entities and integrates legal, accounting, payroll, tax and human resources services to ease the process of international expansion.
HgCapital Trust plc will participate in the acquisition of Nair & Co alongside other institutional clients of HgCapital. The Trust, whose shares are listed on the London Stock Exchange, gives private and institutional investors the opportunity to participate in all HgCapital's investments. The Trust will contribute a total of approximately £20.0 million.
Based on the 31 May 2013 reported Net Asset Value and adjusting for the impact of all post May reported transactions, including this acquisition, liquid resources are estimated to be £122.2 million (26% of the 31 May 2013 pro-forma NAV). The transaction will reduce the Trust's outstanding commitments to HgCapital funds to £313.5 million.
Please find the text of a press release issued today by HgCapital announcing the transaction via the following link:
http://www.hgcapital.com/content/news-media/news.