Hg Capital invests in Blick Rothenburg

HgCapital, the Manager of HgCapital Trust, today announces an investment in Blick Rothenberg, a leading provider of accounting, audit and tax services based in London. The terms of this transaction were not disclosed.

HgCapital Trust plc will invest in Blick Rothenberg alongside other institutional clients of HgCapital, who will participate through the HgCapital 7 Fund. The Trust, whose shares are listed on the London Stock Exchange, gives private and institutional investors the opportunity to participate in all HgCapital’s investments. The Trust will contribute a total of approximately GBP2.8 million.

The investment in Blick Rothenberg represents the eleventh investment made by the HgCapital 7 Fund, and following completion, the Fund will be approximately 68% invested.

Based on the 31 May 2016 reported NAV, the Trust’s liquid resources available for future deployment, including all announced transactions, are estimated to be GBP14.8 million (3% of the pro-forma 31 May 2016 NAV). In addition, the Trust has access to a GBP40 million standby facility, which is currently undrawn. The transaction will reduce the Trust’s outstanding commitments to invest in HgCapital deals to approximately GBP95 million (18% of the pro-forma 31 May 2016 NAV).

Blick Rothenberg LLP is a leading firm of chartered accountants. Based in Central London, they offer audit, assurance and business advisory services, as well as advice on corporate and personal tax matters.

HGT : Hg Capital invests in Blick Rothenburg