ProcessMAP Corporation is an environmental, health and safety (EHS) software platform provider. Hg, the firm behind Hg Capital Trust has agreed to make a significant investment in the business with the aim of accelerating ProcessMAP’s growth and expansion, and help solidify the company’s position as a global leader in the EHS software sector.
HgCapital Trust (HGT) will invest approximately £5.2m in ProcessMAP, with other institutional clients of Hg investing alongside HGT through the Hg Mercury 3 Fund.
Following the transaction, ProcessMAP’s management team will retain a significant stake in the business. The terms of the transaction were not disclosed.
Founded in 2000, ProcessMAP’s vision is to enable businesses to proactively mitigate workplace health and safety risks for workers. ProcessMAP’s SaaS and mobile solutions serve mid-market and enterprise customers across large industry verticals such as automotive and manufacturing. ProcessMAP’s solutions are used by global customers in more than 140 countries, covering 2 million workers across 80,000 sites. Headquartered in Florida, ProcessMAP has nearly 300 employees based in the USA, Canada, the UK, Germany and India. The company is regularly recognized as a “Leader” in the biennial Green Quadrant report for EHS software published by Verdantix, an independent industry analyst for the EHS sector.
ProcessMAP should benefit from Hg’s experience in building and rapidly growing innovative software businesses as well as from the cash injection. ProcessMAP believes that the financial partnership with Hg will also enable ProcessMAP to deliver next-generation, smart and connected EHS solutions to its customers globally. The company will invest to expand its team globally and broaden its global customer base, particularly in Europe and Asia-Pacific.
Following the transaction, the trust’s liquid resources available for future deployment (including all announced transactions, and equity raised via tap issuance) are estimated to be £313m (17% of the pro-forma 30 September 2021 NAV). The investment will reduce the trust’s outstanding commitments to invest in Hg transactions to approximately £405m.
HGT : Hg backs ProcessMAP Corporation