Hg makes further investment in Evaluate

Hg originally invested in Evaluate in November 2016 for a deal value of £40m, according to Unquote Data. The firm invested from its Hg Mercury Fund, which closed on £380m in March 2013. Hg Capital Trust, the listed vehicle that invests in Hg’s deals alongside the firm, also took part in the deal, investing £3.7m of capital.

The firm is currently investing from its Hg Mercury 3 vehicle, which held a first close on €1bn in March 2020.

Hg Capital Trust has invested approximately £8.1m in this latest deal alongside other institutional clients of Hg.

As part of the transaction, Jonathan de Pass, founder of Evaluate, will remain a significant shareholder and will continue to act as a director on the board.

In addition, Sati Sian has been appointed as chair. He was previously CEO for Allocate Software between 2015 and 2018.

Company
Founded in 1996, London-headquartered Evaluate is a provider of commercial intelligence and predictive analytics for the pharmaceutical industry. For the year ending on 30 September 2019, the company reported a turnover £30.8m.

People
Hg - David Issott (partner).
Evaluate - Jonathan de Pass (founder).

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