HgCapital Trust has sold its holding in GGW Group to Permira. Although the precise terms of the deal were undiscolosed, the transaction values HGT’s investment in GGW at approximately £93.8 million an uplift of £27m (40% or 5.9 pence per share) over the carrying value of £66.8 million in the Net Asset Value of HGT at 30 September 2023.

Justin von Simson and Benedikt Joeris, both Partners at Hg, said: “This investment really highlights what gets us out of bed in the morning at Hg. It started as an innovative and very entrepreneurial idea, building a high-quality business alongside a long-trusted partner, in a sector we’ve studied over decades. We’re delighted for the team and look forward to seeing their continued success.”