Hg, Vista Equity Partners to sell Allocate to trade

Sources told Mergermarket in May that the company could fetch a valuation of around £1bn.

Allocate is equally owned and co-controlled by Vista and Hg. Vista acquired the business in April 2018 from Hg, and, in August 2018, Hg exercised its option to reinvest, acquiring a co-controlling stake.

Hg's exit comes seven years after it first invested in the company, taking it private in 2014. Since then, Hg said it "worked with management and invested materially to enhance Allocate's software suite, achieve greater customer engagement, help the business to enter new geographies and create a strong growth platform, with four strategic acquisitions in the last four years".

The deal is subject to regulatory approval. 

Company
Founded in 1991 and based in London, Allocate is a software-as-a-service company and a provider of a human capital management platform to the healthcare, government and commercial sectors. It serves 800 clients and has 700 employees. 

The company in 2020 had revenues of £72.9m and EBITDA of £24.7m, respectively. 

People
Hg – David Issott, Jean-Baptiste Brian (partners). 
Allocate – Nick Wilson (CEO). 

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

• Topics
• Exits
• UK / Ireland
• Technology
• HgCapital
• United Kingdom
• Trade sale