HgCapital backs software business STP
The firm will invest in the German company through its technology-focused Mercury Fund
HgCapital has invested in German software business STP Group.
STP creates software that supports insolvency and commercial law professionals and currently works with around 1,200 customers. Founded in 1993, the business is based in Karlsruhe, Germany and employs around 160 people.
CloudOrigin was delighted to once again provide Technology and Operational Due Diligence to HgCapital on this fast moving deal, with the team led by Chief Executive and Founder, Richard Hall.
“STP have a rapidly evolving product range in the specialist German insolvency market alongside a broader set of practice management and knowledge management solutions providing defensible market position with great growth potential. Another fascinating engagement for us with the team at Hg” commented Hall.
The deal is the ninth from its Mercury Fund, which focuses on technology-related buyouts.
HgCapital’s recent investments from this fund include Zitcom and ScanNet, two Danish web hosting and cloud computing providers, which the firm backed at the end of last year.
Founder and chief executive Gunther Thies will retain a significant stake in the business and will stay in his current management position.