Hg Takes Significant Minority Stake in IFS and WorkWave

Hg, ADIA and CPP Investments acquire minority stake in IFS at €15 billion valuation

April 9, 2025

Software

Hg has increased its stake in enterprise software provider IFS to become a co-control shareholder alongside EQT, as new minority investors — a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and the Canada Pension Plan Investment Board (CPP Investments) — buy shares from EQT, TA Associates and other minority holders. The transaction values IFS at over EUR 15 billion and supports the company’s continued AI-driven growth after surpassing €1 billion in ARR and more than 7,000 employees globally.

EQT Funds Acquire IFS with TA Associates as Minority Partner

July 14, 2020

Software

EQT (through its EQT VIII and EQT IX funds) has agreed to acquire IFS AB from the EQT VII fund for a consideration in excess of EUR 3 billion, with TA Associates joining as a significant minority partner. EQT and TA Associates will back IFS' management to continue investing in product capabilities and pursue growth both organically and via add-on acquisitions.

Hg Makes c.$1bn Strategic Investment in insightsoftware

July 13, 2021

Cloud & SaaS

Hg’s Saturn 2 Fund will make a c.$1bn equity investment in insightsoftware to become a significant minority shareholder alongside TA Associates, in a transaction valuing the business at an enterprise value of around $4.0bn. The investment will support insightsoftware’s continued scale as a cloud financial reporting and EPM platform, with existing minority shareholders Genstar and ST6 remaining supportive and TA and Hg sharing joint control.

H.I.G. Growth Partners Invests in Worksuite

August 14, 2023

Cloud & SaaS

H.I.G. Growth Partners, the growth-capital affiliate of H.I.G. Capital, has completed a strategic growth investment in Worksuite, an end-to-end freelancer operations management cloud platform. The funding will support Worksuite's product and go-to-market expansion as it scales its contingent workforce management, compliance, and payments capabilities for enterprise customers.

Evergreen Coast Capital Makes Strategic Growth Investment in WorkForce Software

July 1, 2019

Cloud & SaaS

WorkForce Software, a Livonia, Michigan-based provider of cloud workforce management solutions, received a significant equity investment from affiliates of Evergreen Coast Capital, which will become an equal partner with existing majority investor Insight Partners. The growth investment is intended to accelerate international expansion, product innovation, and scale the company’s customer experience; terms were not disclosed.

Hg Makes Strategic Investment in CaseWare International

October 27, 2020

Cloud & SaaS

Hg has made a strategic minority investment in CaseWare International to accelerate growth of its cloud audit and assurance products. The investment, from Hg's Genesis 8 Fund, represents CaseWare's first institutional investment and will support expansion of CaseWare Cloud and product development.