HgCapital Trust Sells Holding in GGW Group to Permira
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.”08