HgCapital Trust Invests GBP22.1 Million In Web Hosting Service

LONDON (Alliance News) - HgCapital Trust PLC said Friday it has invested GBP22.1 million in ...

Alliance News 21 December, 2018 | 3:26PM
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LONDON (Alliance News) - HgCapital Trust PLC said Friday it has invested GBP22.1 million in European web hosting firm Combell Group.

HgCapital said other institutional clients will invest in Combell through HgCapital's Hg8 fund.

The investment represents Hg's eighth investment in the technology services sector. The trust said Combell "shows similar characteristics" to its other technology investments .

HgCapital Partner Nick Jordan and Director Joris Van Gool said: "We have been very impressed with what the team at Combell have built over the past 19 years in the Benelux and the Nordics. It's a privilege to invest alongside Combell Chief Executive Officer Jonas Dhaenens and the entire management team.

"We have been following Combell for a long time and believe that the business is strongly positioned to continue growing organically while adding selective M&A on its platform. We look forward to partnering with the Combell team as the business continues to expand across Europe."

Shares in Hg Capital were flat Friday at 1,815.00 pence each.

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
HgCapital Trust Ord 216.50 GBX -0.23
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