Nomadia, a leading European SaaS provider of smart mobility solutions, announced that it has secured a majority investment from Hg. As part of this transaction, the Nomadia management team and former majority owners will continue as investors in the business.
Headquartered in France, Nomadia’s mobile applications and SaaS solutions enable companies to plan and optimise their mobile workers’ travel and activity in real-time. Its solutions address the daily needs of mobile professionals such as technicians, sales representatives and delivery drivers. The announcement says that Nomadia delivers a tangible return on investment to its clients including material productivity gains and can reduce CO2 emissions by up to 30%. It serves over 2,200 clients and more than 188,000 users across 28 countries.
HG Capital Trust will invest approximately £6m as part of the transaction, with other institutional clients of Hg investing alongside it through the Hg Mercury 3 Fund.
Following this deal, Hg Capital Trust’s liquid resources available for future deployment (including all announced transactions, the undrawn bank facility) are estimated to be £659m (30% of the pro-forma 31 March 2023 NAV of £2.2bn).
The investment will reduce HGT’s outstanding commitments to invest in Hg transactions to approximately £1.0bn (47% of the pro-forma 31 March 2023 NAV).
The trust will be announcing its interim results to 30 June 2023 on 18 September 2023.
HGT : Hg backs Nomadia