REG - HgCapital Trust PLC - Hg invests in CTAIMA and e-coordina

HgCapital TrustAnnouncement

02/08/2024 08:00

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RNS Number : 8941Y  HgCapital Trust PLC  02 August 2024

Hg, the Manager of HgCapital Trust plc ("HgT"), today announces an investment
in CTAIMA and e-coordina, who join forces to create leading Iberian contractor
management, risk and compliance software platform.

 

The terms of the transaction are not disclosed.

 

HgT will invest approximately £11.5 million in CTAIMA and e-coordina, with
other institutional clients of Hg investing alongside HgT through the Hg
Mercury 4 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 HgT's share of Hg's overall investment
in CTAIMA and e-coordina.

 

HgT's liquid resources available for future deployment (including all
announced transactions, and the undrawn balance on the bank facility) are
estimated to be £496 million (21% of the estimated 30 June 2024 NAV of £2.4
billion).

 

The investment will reduce HgT's outstanding commitments to invest in Hg
transactions to approximately £713 million (30% of the estimated 30 June 2024
NAV).

 

CTAIMA and e-coordina join forces and secure strategic investment from Hg

 to create leading Iberian contractor management, risk and compliance
software platform

 

-     CTAIMA and e-coordina will join forces to create a contractor
compliance champion in Iberia.

 

-     Hg are backing co-CEOs Lorenzo Zavala and Luis de los Santos to
drive continued growth and innovation.

-     The new investment follows significant growth for the businesses and
will help further enhance the product offering for valued customers and expand
reach across Europe and LatAm.

 

The investment is Hg's first platform investment in Iberia and continues its
focus on mission critical B2B compliance software.

-

 

Tarragona and San Sebastian, Spain. 2 August 2024. CTAIMA, a leading provider
of software and specialised services for contractor management, health &
safety, ESG and compliance, today announces that it has joined forces with
e-coordina, a leading provider of contractor management software and services
in Spain. As a result of this transaction Hg, a leading investor in European
and transatlantic software and services businesses, will become a strategic
investor in the combined business.

 

Headquartered in Tarragona, Spain, CTAIMA was founded in 2003 as a consulting
firm providing legal and health & safety advice. Today the business has
evolved into an international SaaS platform and provider of contractor
management software, with one of the largest global networks of contractors
and suppliers, seamlessly connecting over 100,000 contractors and
subcontractors, with over 1,000 clients across 17 countries worldwide.

 

Lorenzo Zavala, co-CEO of CTAIMA, said: "Our mission is to empower
professionals to create safer and more responsible organisations, with a
commitment to every individual managing these risks. Bringing CTAIMA and
e-coordina together will create a contractor compliance champion in Spain and
Portugal, with a highly complementary product suite and one of the largest
combined networks in the region, connecting 2,000 buyers with over 160,000
suppliers across Iberia."

 

Luis de los Santos, co-CEO of CTAIMA, said: "This is a very exciting day for
us and an important milestone for both CTAIMA and e-coordina. We are grateful
to our teams, customers and partners, who have been key in our trajectory of
growth over the last two decades and with whom we'll continue partnering to
help organisations become safer, more responsible and more sustainable. Hg is
a world-class software investor and their support and experience will help us
to reinforce this mission, enhancing our service offerings and expanding into
new regions."

 

Founded in 2007 and based in San Sebastian, e-coordina is a leading provider
of contractor management software and services in Spain, providing customers
with supplier and external worker compliance management & access control,
as well as management of occupational risk prevention.

 

Iñigo Martinez, founder of e-coordina, said: "We're really excited about
joining forces with CTAIMA to create the best platform in Iberia, bringing
more innovation to benefit our many thousands of buyers and suppliers, who are
fulfilling highly critical services every day."

 

CTAIMA has experienced rapid growth in recent years, driven by its commitment
to innovation and customer satisfaction. Hg's investment will further support
this growth and expansion into new countries across Europe, enhancing its
product offering - including the integration of GenAI - and reinforce CTAIMA's
position as a leading provider of environmental, risk and safety management
software.

 

Christopher Fielding, Partner and Louis Kinsella, Director at Hg, said: "Hg
has been investing in legal and compliance software for over two decades. This
experience enabled us to identify CTAIMA and e-coordina as high-quality
businesses with enormous potential to expand in this sector. We are also
delighted to invest in our first Spanish software platform and look forward to
working with Lorenzo, Luis and their stellar management team."

 

The terms of the transaction have not been disclosed.

 

For further details:

Hg

Tom Eckersley
 
+44 (0)208 148 5401

 

HgCapital Trust

Laura
Dixon
+44 (0)20 8396 0930

 

Brunswick

Azadeh
Varzi
+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, CTAIMA and e-coordina's websites are
not incorporated into, and do not form part of, this announcement.

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