Hg invests in Septeo – Hg has announced an investment in The Septeo Group, a European leader in LegalTech. Hg will invest alongside founders Philippe Rivière, Jean-Luc Boixel, Hugues Galambrun and the management team, which will continue to be led by Hugues Galambrun.
The terms of the transaction were not disclosed and closing of the transaction is conditional on customary anti-trust approvals.
Septeo is a leading LegalTech provider supporting professions including notaries, law firms, corporate legal departments and real estate property managers in France, Belgium, Canada and the US. Founded in 1988, Septeo now has over 12,000 clients and more than 120,000 users, served by over 1,400 employees.
The statement says that the investment reinforces Hg’s focus on legal and regulatory compliance tech, representing the 11th investment in this sector across Europe and North America, with over €1.5bn invested in the sector to date.
HgCapital Trust will invest approximately £40.3m in Septeo, with other institutional clients of Hg investing alongside HGT through the Hg Genesis 9 Fund. Following this transaction, Hg Capital’s liquid resources available for future deployment (including all announced transactions and the interim dividend paid in October 2020) are estimated to be £188mn (15% of the 30 September 2020 NAV of £1.24bn). In addition, the trust has access to a £200m standby facility, which is currently undrawn. The investment reduces the trust’s outstanding commitments to invest in Hg transactions to approximately £633m.
HGT : Hg invests in Septeo