HgCapital Trust PLC
22 September 2026
Hg, the Manager of HgCapital Trust plc ("HgT"), today announces an investment in EnterSoftone (ES1).
The terms of the transaction are not disclosed.
HgT will invest approximately £33 million in ES1, with other institutional clients of Hg investing alongside HgT through the Hg Genesis Fund.
HgT, whose shares are listed on the London Stock Exchange, gives private and institutional investors the opportunity to participate in all Hg's investments. Note that these figures only relate to HgT's share of Hg's overall investment in ES1. HgT's liquid resources available for future deployment (including all announced transactions, the undrawn bank facility upsized in September 2026 and the interim dividend payable in October 2026) are estimated to be £276 million (12% of the pro-forma 31 August 2026 NAV of £2.4 billion). The investment will reduce HgT's outstanding commitments to invest in Hg transactions to approximately £2.0 billion (82% of the pro-forma 31 August 2026 NAV).
EnterSoftone secures majority investment from Hg in transaction worth c. €1 billion
· Deal marks Hg's first investment in a Greek headquartered business
· Hg will support cloud transition and investment in AI, enabled by Hg's AI product accelerator
· Olympia Group, Imker Group, and the management team will retain significant shareholdings
Athens, Greece, 22 September 2026: EnterSoftone (ES1), a leading provider of ERP and business software in Greece, with operations across Southeast Europe, today announced a majority investment from Hg, a leading investor in European and transatlantic software and services businesses. The transaction marks Hg's first investment in Greece and values the business at around €1 billion.
Olympia Group and Imker Group, ES1's existing shareholders, will reinvest significant shareholdings alongside the management team, led by CEO Antonis Kotzamanidis.
Formed in 2025 through the merger of Entersoft and Softone, ES1 is headquartered in Athens and also operates in Romania, Bulgaria and Cyprus. Its product suite spans ERP, CRM, retail, warehouse management, e-commerce, HCM/payroll, and electronic invoicing. ES1 has established itself as a Greek category leader in ERP and digital invoicing, serving over 90,000 clients. It combines deep domain expertise with proprietary technology to deliver compliant, reliable and innovative solutions to businesses of all sizes.
The investment comes as small and medium-sized businesses across Greece adopt digital tools at a rapid pace, driven in large part by the country's shift to mandatory B2B e-invoicing under the myDATA framework. This mirrors a wider trend across Europe, where the EU's VAT in the Digital Age reforms are pushing member states toward digital invoicing.
Hg will work with ES1's management team to complete the company's transition to the cloud, further accelerate product innovation, and expand into neighbouring markets. Hg Catalyst, Hg's in-house AI product incubator, will also support ES1 in building new AI-powered products across its platform.
Antonis Kotzamanidis, CEO of ES1, said: "ES1 was built to be Greece's business software champion, and this partnership gives us the resources to go further and faster. Hg understands ERP at a level few investors do, and that will give us a real advantage as we build new products and push deeper into AI."
Alexandre Flavier, Partner at Hg, said: "Antonis and the team have built an outstanding tech platform with a genuine head start in e-invoicing and innovative products loved by its customers. This investment reflects our confidence in the Greek market and our commitment to building an enduring, AI-enabled software champion in the region."
The transaction is expected to close later this year, subject to customary closing conditions.
-Ends-
For further information, please contact:
HgCapital Trust Laura Dixon
+44 7824 592 894
George Crowe
+44 7774 617 150
Cadarn Lucy Clark
lucy@cadarncapital.com
+44 7984 184 461
David Harris
david@cadarncapital.com
+44 7368 883 211
Hg Tom Eckersley
Sam Ferris
About HgCapital Trust plc
HgCapital Trust plc is an investment company whose shares are listed on the London Stock Exchange (HGT.L). HGT gives investors exposure, through a liquid vehicle, to a portfolio of high-growth unquoted companies, managed by Hg, 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, see www.hgcapitaltrust.com and www.hgcapital.com
About EnterSoftone
ES1 is a leading Greek ERP and business-management software company, serving more than 90,000 businesses across Greece, from SMBs to large enterprises. ES1's technology helps businesses manage their operations and stay compliant with Greece's digital tax and e-invoicing requirements, including the myDATA framework. To learn more, visit: entersoftone.gr/en/
About Hg
Hg is an investor in European and transatlantic technology and services businesses. We are an AI leader in private equity, helping to build sector-leading enterprises that supply critical applications or workflow services to deliver intelligent automation for their customers.
We take an active approach to value creation, combining deep end-market knowledge with world-class operational resources to support entrepreneurial leaders looking to scale and drive AI transformation.
With a vast European network and strong presence across North America, Hg currently has over $110 billion in assets under management and more than 400 employees. Our portfolio spans around 60 businesses worth over $195 billion in aggregate enterprise value, employing more than 140,000 people and consistently growing revenues at more than 16% annually.
Past performance is not indicative of future results. Capital at Risk.
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