HgCapital agrees to sell Mainio Vire to Mehiläinen

HgCapital, the Manager of HgCapital Trust plc ("The Trust"), has announced that it has agreed the sale of Mainio Vire, a leading provider of elderly care, mental health and home services in Finland, to Mehiläinen, a private provider of social and health care services also based in Finland. Completion is subject to regulatory approval.

The Trust is a listed investment trust which participates in all HgCapital's investments alongside its institutional clients. On completion, this transaction will result in an estimated value of the Trust's stake in Mainio Vire of £4.1 million, which represents an uplift of £1.0 million (32%) over the carrying value of £3.1 million in the Net Asset Value ("NAV") of the Trust at 31 May 2016, which was based on the Directors' valuation as at 31 December 2015.

Based on the 31 May 2016 reported NAV (including the impact of the revaluation of the carried interest provision), the pro-forma NAV of the Trust is expected to increase to £519.7 million or 1,392.4 pence per share (an increase of 2.3 pence).

HgCapital agrees to sell Mainio Vire to Mehiläinen

HgCapital is pleased to announce that it has agreed the sale of Mainio Vire, a leading provider of elderly care, mental health and home services in Finland, to Mehiläinen, a private provider of social and health care services also based in Finland. Completion is subject to regulatory approval. The purchase price has not been disclosed.

Founded in 1997, Mainio Vire was one of the first private social care companies in Finland and it has grown rapidly via a combination of opening new care homes and selected small acquisitions to become one of the largest social care companies in Finland today. The company operates close to 50 care homes with almost 1,600 beds in over 50 municipalities. The company has approximately 1,000 employees, the significant majority of which have formal social or healthcare education.

During its ownership, HgCapital has supported Mainio Vire's management team in various initiatives to accelerate revenue growth and has invested significantly into quality and other support functions. Today, Mainio Vire is one of the highest quality care providers in Finland.

Janne-Olli Järvenpää, CEO, Mehiläinen, said:

"Mainio Vire is known for its high-quality care, people focussed work and the provision of care homes that prioritise the comfort of their residents. We are delighted to have Mainio Vire's services as part of Mehiläinen."

Leena Munter, CEO, Mainio Vire, commented:

"Together we can offer our customers more choices. There will also be more development resources, with two strong companies and a similar set of values combining their social and health care know-how."

- Ends -

For further details:

HgCapital

Maitland

About HgCapital Trust plc

HgCapital Trust plc is an investment trust whose shares are listed on the London Stock Exchange (ticker: HGT.L). The Trust is a client of HgCapital, giving investors exposure to a portfolio of high-growth private companies, through a liquid vehicle. New investments and existing portfolio companies are managed by HgCapital, an experienced and well-resourced private equity firm with a long-term track record of delivering superior risk-adjusted returns for its investors. For further details, please see www.hgcapitaltrust.com.

Neither the contents of HgCapital's, HgCapital Trust's, Mainio Vire's, nor Mehiläinen's websites nor the contents of any website accessible from hyperlinks on the websites (or any other website) is incorporated into, or forms part of, this announcement.