Hg Leads Majority Investment in Sovos; TA Associates Joins as Minority Investor

TA Associates Acquires Majority Stake in Solifi

October 9, 2024

Cloud & SaaS

TA Associates has made a majority investment in Solifi, a global cloud-based fintech software provider for secured finance, to support product innovation and accelerate expansion into adjacent markets and new geographies. Existing investor Thoma Bravo will remain a meaningful stakeholder; the capital will also enable strategic M&A to expand Solifi's capabilities and geographic footprint.

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.

Sovos Acquires LTtax

December 8, 2020

Software

Sovos, a Boston-based global tax software provider, has acquired LTtax, a New York–based payroll withholding and unemployment tax software provider that serves large retailers, financial institutions and insurers. The deal brings LTtax's automated wage withholding capabilities into Sovos' tax information reporting suite, enabling Sovos to support payroll wage withholding (941 series) while strengthening non-wage withholding automation for 945 and 1042 reporting; terms were not disclosed.

Hg and TA Associates Make Strategic Investment in The Access Group

October 20, 2020

Software

The Access Group, a UK-based provider of business management software, secured a substantial strategic investment from its two largest shareholders, Hg and TA Associates, who will retain joint control alongside the management team. The transaction (terms undisclosed) is intended to accelerate The Access Group's organic and acquisitive growth and support geographic expansion.

Hg-Led Consortium Acquires Visma as Montagu Fully Exits

August 21, 2020

Cloud & SaaS

Hg’s Saturn team led a consortium of existing and new investors — including GIC, CPPIB, TPG, Warburg Pincus, General Atlantic and ICG — in a transaction that buys Montagu’s stake in Visma and values the company at NOK 110 billion (US$12.2 billion), the largest-ever software buyout. The deal recapitalizes Visma’s investor base (Hg retaining ~54% post-transaction) and brings additional growth capital to the Oslo-headquartered SaaS leader, which employs over 11,000 people and serves more than one million business customers.

TA Associates and Charlesbank Invest in HelpSystems (joins HGGC)

October 10, 2019

Cybersecurity

Private equity firms TA Associates and Charlesbank Capital Partners have signed definitive agreements to become additional investors in HelpSystems, joining existing investor HGGC as well as management and employees. The minority growth investment will provide capital to accelerate HelpSystems' organic growth and support complementary acquisitions of cybersecurity, automation and analytics solutions.