M&A Deal Summary

HgCapital Acquires Litera Microsystems

On May 7, 2019, private equity firm HgCapital acquired information technology company Litera Microsystems from K1 Investment Management and BGF

Acquisition Highlights
  • This is HgCapital’s 11th transaction in the Information Technology sector.
  • This is HgCapital’s 6th transaction in the United States.
  • This is HgCapital’s 1st transaction in Illinois.

M&A Deal Summary

Date 2019-05-07
Target Litera Microsystems
Sector Information Technology
Buyer(s) HgCapital
Sellers(s) K1 Investment Management
BGF
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)

Target

Litera Microsystems

Chicago, Illinois, United States
website
Litera Microsystems is a provider of a document technology solutions to the legal and life sciences communities. The Company focus is on helping organizations spend more time creating the highest quality documents and less time fixing them. Litera Microsystems was founded in 2001 and is based in Chicago, Illinois.

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Buyer(S) 1

Buyer

HgCapital

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HgCapital is a European private equity firm focused on a wide range of transactions including public-to-private leveraged buy-outs, management buy-ins, divestitures, and turnarounds. Broad sectors of interest include consumer and leisure, healthcare, industrials, services, technology, media, and renewable energy. The Firm will consider both majority and minority investment positions. HgCapital is the successor to Mercury Capital Partners, a former unit of Merill Lynch which was spun out by management in 2000. HgCapital has offices in London and Munich.


DEAL STATS #
Overall 108 of 138
Sector (Information Technology) 11 of 14
Type (Secondary Buyout) 35 of 47
State (Illinois) 1 of 2
Country (United States) 6 of 14
Year (2019) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-18 The Foundry Visionmongers

London, United Kingdom

The Foundry Visionmongers Ltd. is a provider of software technologies used to deliver visual effects and 3D content for the digital design, visualization, and entertainment industries. Foundry’s software is deeply embedded across the creative pipeline and is supported by a large ecosystem of users, trainers, and evangelists across the globe. The Foundry Visionmongers Ltd. was founded in 1996 and is based in London, United Kingdom.

Sell £410M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-14 Paragon Healthcare Services

London, United Kingdom

Paragon Healthcare Services is a provider of speciality residential care for patients with learning disabilities. Paragon Healthcare Services was founded in 2001 and is based in London, United Kingdom.

Sell -

Seller(S) 2

DESCRIPTION

K1 Investment Management, LLC is a West Coast US-based private equity firm investing in high-growth private companies across North America. The Firm has a special interest in enterprise software companies and looks to provide meaningful strategic and operational guidance when working with portfolio companies. K1 Investment Management was established in 2011 and is headquartered in El Segundo, California.


DEAL STATS #
Overall 5 of 10
Sector (Information Technology) 2 of 4
Type (Secondary Buyout) 3 of 5
State (Illinois) 1 of 1
Country (United States) 4 of 8
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-08 Jebbit

Boston, Massachusetts, United States

Jebbit is a provider of “declared data” capture platform that allows enterprise customers to capture consumer information at scale through a self-service digital experience builder. “Declared data” is first-party information that is willingly and explicitly shared by the consumer and is, therefore, timelier and more accurate than traditional third-party data. Jebbit was founded in 2011 and is based in Boston, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-03 Trackforce Valiant

San Diego, California, United States

Trackforce Valiant is an operator of physical security software and technology solutions company dedicated to the development of cloud and mobile-based security management software systems. Trackforce proudly offers the most effective solutions available on the market. Trackforce Valiant has over 1,000 customers including the world's leading security guard service providers, major airports, universities, and corporations across the globe. Trackforce Valiant was founded in 2000 and is based in San Diego, California.

Buy -
SELLER

BGF

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 2011
PE ASSETS 2.5B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Business Growth Fund (BGF) is a private investment firm focused on early and growth-stage investing across the UK. The Firm also invests in publicly traded companies. BGF's growth team looks to invest £1 to £15 million in small to mid-sized companies looking for additional capital to pursue growth. BGF was established in 2011 and is headquartered in London.


DEAL STATS #
Overall 24 of 89
Sector (Information Technology) 2 of 8
Type (Secondary Buyout) 9 of 26
State (Illinois) 1 of 1
Country (United States) 1 of 1
Year (2019) 3 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-20 St Pierre Groupe

Manchester, United Kingdom

St Pierre Groupe is specialized in bakery sector with a brand portfolio including Baker Street and Paul Hollywood Ready to Bake Breads. St Pierre Groupe was founded in 1985 and is based in Manchester, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-06 Styles & Wood

Altrincham, United Kingdom

Styles & Wood provides a full range of property-related services from planning and fit-out to ongoing property management services.

Sell -