HgCapital has sold Trados Incorporated, a provider of globalisation software to the translator and corporate enterprise market, to SDL plc in its third exit from its German portfolio. The sale of Trados will realise $18.8m for investors.
HgCapital invested $13m in Trados in 2000. Since the investment, HgCapital has worked with the business to grow value through strengthening the management team, merging with Uniscape in the US and focusing the business on its key strategic priorities. Under HgCapital’s ownership, Trados has strengthened its market position and sales have risen from $11.3m in 1999 to $30m in 2005.
Lisa Stone, HgCapital director, said: “We have worked with the management team at Trados to achieve an enviable market position as the leading global supplier of localisation software based on leading edge technology and a strong blue chip customer base. We are pleased that we are now able to achieve a strong exit for clients.”