HGGC acquires Selligent

The capital received by Selligent as part of the transaction remains confidential, yet press reports place it around the $200m mark, with $150m coming from HGGC. According to the GP, Selligent's founders and management team will remain as significant minority shareholders.

The new funds will be used by the software developer to fuel its international expansion, with a particular focus on the US market. Although new offices were recently set up in both New York and Boston, Selligent intends to keep its headquarters in Europe.

The SBO marks an exit for shareholder Saints Capital, which picked up a stake in Selligent alongside nine other companies seven years ago. 

Previous funding
Selligent first came under private equity ownership in October 1999. That year saw Dassault Développement, German high-tech specialist Technologieholding – which was later acquired by 3i in 2000 – and venture house CD Technicom deploy a combined €3.8m for a majority stake in the business, with founders André Lejeune and Thierry Techy staying as minority shareholders.

According to unquote" data, Dassault and 3i injected a further €3.2m into Selligent in June 2000 and took part in a €6m third round in December 2001 alongside CD Technicom and Innovacom. The latter would keep its stake in the software developer until October 2008, when it divested it alongside interests in nine other companies to Saints Capital for around €35m.

Company
Founded in 1990, Selligent specialises in providing data-based customer engagement services, including e-mail and website optimisation to more than 450 brands within sectors such as retail, finance and travel. Its client base includes Samsung, Ikea and BMW.

With headquarters in both Braine-l'Alleud in Belgium and New York in the US, the business manages additional offices in Belgium as well as in Paris, Munich and Boston. Employing a workforce of 210 professionals, Selligent claims to have experienced a 45% uptick in revenues during 2014.

People
HGGC was represented by principal Hudson Smith and CEO and managing partner Rich Lawson, set to become chairperson at Selligent. The company's current CEO is André Lejeune, who is also one of its three co-founders.

Advisers
Equity – Kirkland & Ellis (Legal); King & Wood Mallesons (Legal).
Company – Allen & Overy (Legal).

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