HGCapital Trust (HGT)

Sector:

Investment Firms

Index:

FTSE 250

234.00p
   
  • Change Today:
      6.00p
  • 52 Week High: 237.00
  • 52 Week Low: 175.00
  • Currency: UK Pounds
  • Shares Issued: 402.60m
  • Volume: 143,691
  • Market Cap: £942.08m
  • RiskGrade: 122
  • Beta: 0.01

HgCapital to invest in legal document software firm Litera

By Josh White

Date: Tuesday 07 May 2019

LONDON (ShareCast) - (Sharecast News) - HgCapital Trust announced on Tuesday that it would invest in Litera Microsystems, which it described as a "leading provider" of end-to-end document lifecycle solutions to the legal and life sciences industries, based in Chicago.
The FTSE 250 firm said the terms of the transaction were not being disclosed.

It said Litera had developed a "leading suite" of legal document productivity applications, delivered as an end-to-end platform to more than 1,300 organisations globally.

Litera's suite of productivity tools reportedly helped customers to focus on creating the highest quality documents.

The company said the investment in Litera followed one of its core investment theses, focussed on the secular growth of software suppliers for business-critical functions in the legal and regulatory compliance sector.

HgCapital said it had been actively following that theme for more than 15 years, with Litera representing the sixth legal and compliance business currently in its portfolio, with others including German insolvency and law practice software provider STP, and US-based Mitratech, which it said was a leading provider of enterprise legal management software to corporate legal departments.

The company said its team had known Litera for several years, recognising it as a business solving mission-critical workflows for its customers, leading to "strong" recurring revenues and displaying the same growth characteristics as many others in the Hg portfolio.

It said the investment was being made from its Genesis 8 Fund which, following the completion of the transaction, would be 54% invested across seven software and service businesses.

"We have been very impressed with Litera's great track record of delivering innovative products that change the way legal professionals work, with an unmatched record of excellent customer support and satisfaction," said HgCapital's Ben Meyer, Jean Baptiste Brian and Hector Guinness in a joint statement.

"We look forward to working closely with Avaneesh and his team to continue the success of this company."

Litera chief executive officer Avaneesh Marwaha said that over the last few years, the firm had experienced "great success" in creating a platform for long term growth.

"As we looked for the next partner to align the business with, Hg stood out.

"Leveraging Hg's support and their experience in software, legal, life sciences and global expansion will enable Litera to reach new levels of success with confidence, whilst also allowing us to further invest in our people and culture," Marwaha explained.

"We look forward to partnering with Hg and developing new products and capabilities to continue to meet the evolving needs of our customers."

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

Note 2: RiskGrade figures are provided by RiskMetrics.

 

HGCapital Trust Market Data

Currency UK Pounds
Share Price 234.00p
Change Today 6.00p
% Change 2.63 %
52 Week High 237.00
52 Week Low 175.00
Volume 143,691
Shares Issued 402.60m
Market Cap £942.08m
Beta 0.01
RiskGrade 122

HGCapital Trust Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
3.84% below the market average3.84% below the market average3.84% below the market average3.84% below the market average3.84% below the market average
25.97% below the sector average25.97% below the sector average25.97% below the sector average25.97% below the sector average25.97% below the sector average
Price Trend
87.91% above the market average87.91% above the market average87.91% above the market average87.91% above the market average87.91% above the market average
96.79% above the sector average96.79% above the sector average96.79% above the sector average96.79% above the sector average96.79% above the sector average
Income
65.4% below the market average65.4% below the market average65.4% below the market average65.4% below the market average65.4% below the market average
80.77% below the sector average80.77% below the sector average80.77% below the sector average80.77% below the sector average80.77% below the sector average
Growth
97.29% below the market average97.29% below the market average97.29% below the market average97.29% below the market average97.29% below the market average
89.97% below the sector average89.97% below the sector average89.97% below the sector average89.97% below the sector average89.97% below the sector average

HGCapital Trust Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Sep-19 21-Mar-19
Paid 25-Oct-19 30-Apr-19
Amount 1.80p 30.00p

Trades for 13-Sep-2019

Time Volume / Share Price
15:53 7,705 @ 231.60p
16:35 86,860 @ 234.00p
16:28 428 @ 233.50p
16:26 8 @ 233.50p
16:26 563 @ 233.50p

HGCapital Trust Key Personnel

Chair Roger Mountford

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