Hg gains majority ownership of TrustQuay 04 October 2022UK Reporter: Lucy Carter
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Software and services investor Hg has become the majority owner of technology provider firm TrustQuay. Under this new ownership, the current TrustQuay management team will continue in their roles.
TrustQuay provides software for trust, fund, and corporate service providers, covering areas including entity management, client accounting, and practice management. With 11 offices spanning key jurisdictions, the firm has more than 26,000 users worldwide.
The company is soon to begin the roll-out of TrustQuay Online, a software as a service (SaaS) solution launched in April 2022.
Commenting on the transaction, Richard Earnshaw, director at Hg, says: “At Hg we focus on SaaS and technology businesses that are leading their sector towards change and a better way of working. TrustQuay is an exciting business which is applying this vision to the trust, corporate services and fund industry, having developed a quality, modern product and with ambitious future plans.”
Keith Hale, executive chairman of TrustQuay, comments: “Our mission is to automate and digitalise the trust, corporate and fund services software sector – offering our customers the combination of best functional capabilities with the most modern, up-to-date technology.
“Hg has an amazing track record of supporting technology software providers to financial markets and we are excited about what this new tech expertise and resource will deliver for our customers, our team and our industry.”
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