It looks like there has been a switch in private equity owners at smartTrade.
Electronic trading and payments platforms provider smartTrade Technologies has announced a new strategic investment from TA Associates, a leading global private equity firm. David Vincent, CEO and Co-Founder of smartTrade, and the broader management team, will invest alongside TA at closing, reinforcing their shared commitment to the company’s future.
Upon completion of the transaction, Hg, via its HGCapital Trust Plc (LON:HGT) unit, a leading investor in European and transatlantic software and services businesses, will fully exit its majority investment in smartTrade. The transaction will be subject to customary workers’ council consultation process under applicable laws.
The terms of the transaction have not been disclosed. However Hg reported that this transaction will return approximately £30.3 million for Hg’s investment in smartTrade.
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