Hg invests in Pirum 13 December 2021UK Reporter: Bob Currie
Image: Pirum
Hg, the software and services investor, has become joint owner of Pirum Systems.
With this investment, Hg will share control with Bowmark Capital, Pirum’s current major shareholder, which has invested in the company since 2019.
Pirum’s management team will also retain a significant shareholding in the business.
The terms of the transaction have not been publicly disclosed and are subject to regulatory approval.
Pirum chief executive Philip Morgan says: “This is a significant milestone in our journey, and is welcome news for everyone at Pirum. Together with Bowmark, Hg will actively support Pirum’s global expansion and investment in additional innovations, helping us to deliver further efficiency and productivity gains for our customers and broader industry ecosystem.”
Sebastien Briens, partner at Hg, says: “Hg invests in businesses that are champions in their field, with compelling long-term growth prospects underpinned by strong technological foundations and talented leadership teams.
“Pirum has all of these qualities and is a business we have tracked for many years through our capital markets technology focus.”
Bowmark managing partner Julian Masters says: “We have known Pirum and its team for over a decade, and the business has achieved uninterrupted revenue and profit growth during this period.
“Pirum has a strong track record of product innovation and best-in-class services, which continuously enhance its propositions for collateralised markets. We are delighted to welcome a new partner in Hg, while continuing to work closely with the management team.”
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Image: Pirum 