HgCapital has struck a pair of deals with software companies in Europe. First, the firm has acquired Visma BPO, the business process outsourcing unit of Visma, a Nordic provider of accountancy software in which HgCapital has owned a minority stake since 2014. The carveout falls in line with the firm's emphasis on the accounting and tax compliance space.
In addition, HgCapital has agreed to exit a different financially focused software company: Personal & Informatik, a provider of payroll and HR software headquartered in Germany. Permira will acquire a majority stake in the business, with HgCapital retaining a minority stake in the company, which it first backed in 2013. The firm will record a 36% IRR and 2.3x investment multiple on the sale.