Company Announcements

Hg, the Manager of HgCapital Trust plc ("HGT"), today announces an investment in Geomatikk Group, a tech-enabled services champion, managing critical 'check-before-you-dig' safety assessments to network owners, contractors and consulting engineers within Norway, Sweden and Finland. 

The full terms of the transaction are not disclosed and closing is subject to obtaining relevant regulatory approvals.

HgCapital Trust plc will invest approximately £7.4 million in Geomatikk Group, with other institutional clients of Hg investing alongside HGT through the Hg Mercury 2 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 HGTs share of Hg's overall investment in Geomatikk Group.

HGT's liquid resources available for future deployment (including all announced transactions and the interim dividend paid in October 2020) are estimated to be £161 million (13% of the 30 September 2020 pro-forma NAV of £1.25 billion, including the increase in equity via tap equity issues over the fourth quarter of 2020). In addition, HGT has access to a £200 million standby facility, which is currently undrawn.

The investment will reduce HGT's outstanding commitments to invest in Hg transactions to approximately £598 million (48% of the 30 September 2020 pro-forma NAV).

Hg invests in Geomatikk Group

Partnering with the business to continue its growth as a Northern European champion in  

Underground Mission-Critical GIS Data and Detection.

Oslo, NORWAY and London, UK. 18 December 2020: Hg, Europe's leading software investor, today announces an investment in Geomatikk Group ("Geomatikk").

Geomatikk is a tech-enabled services champion, managing critical 'check-before-you-dig' safety assessments to network owners, contractors and consulting engineers within Norway, Sweden and Finland. 

Hg will support Geomatikk with its extensive experience in scaling tech champions across Europe. Hg will become the majority investor, with founders and management remaining as significant investors in the business. The full terms of the transaction are not disclosed and closing is subject to obtaining relevant regulatory approvals.

Founded in 2005, Geomatikk is a leading tech-enabled services provider managing critical "check-before-you-dig" requests in Norway, Sweden and Finland. The core product is a comprehensive mapping of all underground infrastructure in the countries it operates, which underpins an end-to-end technology platform that manages these pre-dig checks and complementary workflows such as site inspection, damage resolution and network monitoring. Geomatikk has become a one-stop source of truth for underground cable management serving network owners and the construction industry across the Nordic region.

Hg has been investing in and growing businesses across the Nordic region for close to 20 years.

Geomatikk is also Hg's 10^th investment in the Tech Services sector, where around €1 billion has now been invested. This investment will be made from the Hg Mercury 2 Fund.

Øystein Moan will also join Geomatikk as Chairman of the board. Øystein has extensive experience of building software businesses in the Nordic region, having been CEO, and currently Executive Chair, of Visma, a leading provider of business-critical software to private and public enterprises in the Nordic, Benelux and Baltic regions. Over the last 23 years Øystein has overseen revenue growth from NOK 300 million to over NOK 19 billion today at Visma. Geomatikk has the potential to follow a pattern similar to Visma and become a European champion in Underground Mission-Critical GIS Data and Detection.

Knut Bratsberg, CEO and Founder of Geomatikk, said: "Hg has a long history of significantly scaling technology businesses in the Nordics. We believe that their extensive experience in software and technology transformation will enable us to provide an even more seamless and compelling product for our customers, whilst also the opportunity to bring our vital services to other regions in Northern Europe. This is an incredibly exciting opportunity and I would like to say thank you to our excellent team who have performed incredibly well in what has been a significant and challenging year for everyone. We look forward to what the future holds."

David Issott, Partner at Hg, said: "We are hugely impressed in what Knut and the Geomatikk team have built in the Nordics. Geomatikk provides a high value service protecting critical infrastructure in the region. By building a high-quality and increasingly tech-enabled product, Geomatikk is a leading European champion in this geographic information sector. We look forward to working with Knut and the entire Geomatikk team as we use our experience of scaling technology enabled businesses to support further growth."

For further details:

Hg

Laura Dixon                                                                                                                         +44 (0)20 8396 0930

Brunswick

Samantha Chiene                                                                                                             +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 Geomatikk websites are not incorporated into, and do not form part of, this announcement.