CPPIB acquires minority stake in Visma from Hg for £21.7M

Photo of author

By CPE News

CPE Media News (1/23/2019) – Canada Pension Plan Investment Board (CPPIB) has acquired an indirect minority stake in Visma Group from Hg, the manager of HgCapital Trust plc (LSE: HGT).

The transaction was led by CPPIB, following a competitive sales process by Hg.

Financial terms were not disclosed. However, Hg disclosed that it realized estimated cash proceeds of approximately £21.7 million on completion of the transaction, reducing its Visma holding value from £153.6 million to £131.9 million.

Hg along with CPPIB will continue as Visma’s major shareholder (48.9%), with Cinven (17.1%), GIC (13.58%), Intermediate Capital Group (7.59%) and Montagu (6.18%) remaining as minority shareholders. Visma management group owns 6.6% stake.

Oslo, Norway based Visma Group operates in five business areas: SMB, Enterprise, Commerce Solutions, Custom Solutions and Cloud Infrastructure Services.

photo credit: Visma Group

News Release

Visma Group welcomes the Canada Pension Plan Investment Board as a new investor

January 22, 2019

Visma Group is delighted to announce today that it has welcomed the Canada Pension Plan Investment Board (CPPIB) as an investor in the company.

CPPIB is a large international, institutional investor, managing the funds of the Canada Pension Plan on behalf of its 20 million Canadian contributors and beneficiaries. The transaction, led by CPPIB and following a competitive sales process for a stake in the business, will see CPPIB invest in a part of the holding currently held by Hg, a specialist technology investor and majority shareholder in Visma.

Following the transaction, Visma will have backing from some of the world’s largest institutional and specialist technology investors alongside lead investor Hg, including Cinven, GIC, Intermediate Capital Group and Montagu. Together, Visma and its strong investor base will continue to reinforce Visma’s position as a leading SaaS business in Europe and one of the world’s most successful SaaS companies.

The terms of the transaction are not disclosed.

About Canada Pension Plan Investment Board
Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits in the best interests of 20 million contributors and beneficiaries. In order to build a diversified portfolio, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, São Paulo and Sydney, CPPIB is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At September 30, 2018, the CPP Fund totalled C$368.3 billion. For more information about CPPIB, please visit www.cppib.com or follow us on LinkedIn, Facebook or Twitter.

For more information, please contact:
Øystein Moan, Visma Group CEO, mobile: +47 92 08 00 00
Press Officer

Aase Settevik
Director of Brand & Communications
Tel: +47 920 49 559