Hg agrees sale of Teufel to Naxicap Partners

Hg agrees sale of Teufel to Naxicap Partners – HgCapital Trust (HGT) has announced the sale of one of its portfolio companies, Teufel to Naxicap Partners.

Hg will realise estimated cash proceeds of approximately £15.2m on the completion of this transaction. This would represent an uplift of £5.4m (56%) or 15 pence per share over the carrying value of £9.7m in the NAV of the Company at 31 March 2018.

More on Teufel

Teufel, is a European direct-to-consumer online brand for audio solutions, based in Berlin, in Germany, it is focused on the mid-to-high-end segment of the audio solutions market and has built a very strong customer base over the last 40 years. Since Hg partnered with Teufel in 2010, it has supported the successful transition from a traditional loudspeaker company to a high-quality brand for state-of-the-art audio solutions, through the introduction of new categories and technologies, including wireless streaming, headphones and portables.

More on Naxicap

based in France and with operations across Europe, Naxicap is a Private Equity firm, operating in all sectors and focusing on leverage buyouts and growth capital.

HGT : Hg agrees sale of Teufel to Naxicap Partners