HgCapital in £109.6m bid for Allocate Software

If successful in bidding for the company, Allocate's shareholders stand to receive 153.55 pence per share as well as a final dividend of 1.45 pence per share. The bid is subject to shareholder approval.

HgCapital's offer represents a 35.3% premium on Allocate's share price of 113.5 pence per share on 13 October.

The GP has an impressive track record in public-to-private transactions, having successfully taken private five companies over the last decade, including Visma, Computer Software Group, Group NBT (now Net Names), Goldshield (now Mercury Pharma) and SHL.

Allocate provides software designed to improve workflow, governance, risk and compliance. The company was established in 1991, and in 1995 was awarded its first major contract, working with British defence organisations to improve deployment and training management. In 2006 it began working with the NHS, for which it is now its main provider of compliance software.

Allocate is headquartered in London with regional offices in the UK, Australia, Malaysia, Sweden and the US.

The company employs 300 people and is listed on the London Stock Exchange's AIM.

Terry Osborne is chairman of Allocate.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• UK / Ireland
• Expansion
• HgCapital
• United Kingdom