HgCapital acquires Valueworks

The all-equity deal is the first investment from HgCapital's Mercury fund, which is exclusively targeting lower mid-market TMT businesses. The fund's investements range from £20 to £80m and the vehicle has not held a final close yet.

The company's current shareholders reinvested as part of the transaction, which is expected to complete by the end of Ocotber 2012.

Company
Valueworks is a British provider of cloud-based e-commerce technology to the social housing, social care, construction and education sectors. Headquartered in Lancashire, Valueworks operates from offices in Nottingham, Newcastle and Gloucester.

People
Matthew Brockman leads HgCapital's Mercury fund team, supported by co-head David Issott. Jeff Dandridge is CEO of Valueworks.

Adviser
Equity - Weil Gotshal & Manges, Mark Soundry, Simon Burrows (Legal); Oakley Capital, Chris Godsmark (Corporate finance); Deloitte, Jason Richards (Tax, financial, commercial and systems due diligence).
Company - Lockett, Loveday, McMahon, Paul Lockett (Legal); First Capital, Jason Purcell (Corporate finance). 

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• Topics
• UK / Ireland
• Technology
• Buyouts
• e-commerce
• United Kingdom
• HgCapital