Hg-Led Consortium Acquires Visma as Montagu Fully Exits

Hg Increases Ownership in Visma; Cinven Sells Remaining Stake

April 18, 2019

Software

Hg Saturn (Hg) and its investors agreed to a further ~€640 million equity investment in Visma, with the Canada Pension Plan Investment Board (CPPIB) committing ~€110 million. As part of the transaction Cinven sells its remaining stake, valuing Visma at an enterprise value of over €6.5 billion and leaving Hg-managed funds with about a 63% ownership alongside co-investors including GIC, ICG and Montagu.

Hg-backed Visma Attracts New Investors in €19bn Equity Transaction

December 21, 2023

Software

Hg-backed software group Visma expanded its shareholder base in a transaction valuing the company at EUR 19 billion, welcoming around 20 new investors and raising over €1bn from new investors plus roughly €3bn of new investment from existing shareholders. Named new investors include Altaroc, Jane Street, NPS and the NYC Retirement System, while existing/co-investors providing further capital include Hg, ICG, TPG and Visma management to support continued international expansion and product innovation.

Visma Secondary Sale to Aeternum, Folketrygdfondet, Vind and GIC Valuing Company at €16B

September 10, 2021

Cloud & SaaS

Visma completed a secondary sale to institutional investors Aeternum Capital, Government Pension Fund Norway (Folketrygdfondet), Vind and GIC at a valuation of €16 billion, expanding its shareholder base to support further European and international expansion. Hg remains the majority owner alongside existing co-investors, and the new investors will support Visma’s continued cloud and product growth.

Visma Acquires Silverfin

September 25, 2023

Cloud & SaaS

Norwegian software group Visma has acquired Silverfin, a Ghent-based cloud accounting software provider, to strengthen its position in cloud accounting across Europe and expand its presence in the Belgian market. Silverfin — founded in 2013 with ~170 employees and ~850 direct customers — will continue to scale its cloud-native post-accounting platform within Visma, leveraging its AI capabilities and international customer base.

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.

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

August 20, 2020

Cloud & SaaS

Hg will lead a new majority investment in global tax software provider Sovos through its Hg Saturn 2 Fund, with TA Associates joining as a significant minority investor. The capital will support Sovos' geographic expansion, partner ecosystem growth and product/capability development as digital tax and regulatory transformation accelerates globally; terms were not disclosed and the deal was expected to close in H2 2020.