Bowmark Capital realises investment in Focus Group to Hg

HgCapital LLP, the UK based private investment firm, has agreed to acquire Bowmark Capital LLP, the UK based private equity firms stake in Focus 4U Ltd (ta Focus Group), the UK based business technology firm, that offers a single point of contact for the IT needs of SMEs, providing communications and software solutions, connectivity and value-added IT services. As part of the deal HgCapital Trust (HgT) will invest around GBP 21.3m (USD 26.6m, EUR 24.9m) in Focus Group, with other institutional clients of Hg investing alongside HgT through the Hg Genesis 10 Fund. Focus Group has revenues over GBP 250m. Sky News has reported that, the deal could value Focus Group at almost GBP 800m, and that the deal will see the founders, Chris Goodman and Ralph Gilberts combined equity stake of more than 50% valued at well over GBP 100m, although they are both expected to reinvest part of their proceeds in the business.