sharecast

{{ storiesRelated.title }}

Iain Gilbert Sharecast News
10 Jun, 2022 07:30

Apax Global Alpha's X Fund sells controlling stake in MyCase

dl apax global alpha investment financial services wealth management finance ftse 250 min
Apax Global AlphaSharecast graphic / Josh White

Apax Global Alpha Limited

142.40p

15:44 22/11/24
0.28%
0.40p

Investment outfit Apax Global Alpha revealed on Friday that the Apax X Fund, in which it is a limited partner, had sold its controlling stake in MyCase to AffiniPay.

Equity Investment Instruments

12,091.16

15:44 22/11/24
0.69%
83.33

FTSE 250

20,584.46

15:45 22/11/24
n/a
n/a

FTSE 350

4,551.10

15:45 22/11/24
n/a
n/a

FTSE All-Share

4,506.61

15:45 22/11/24
n/a
n/a

Apax said the sale of MyCase, which provides cloud-based legal practice management software and payment services, valued AGA's current look-through investment in the portfolio company at approximately €22.5m, representing an uplift of about 48% to last unaffected valuations and roughly €7.3m in the adjusted net asset value of AGA as of 31 March.

The FTSE 250-listed firm noted that the purchase consideration for MyCase was made up of a combination of cash and stock. Following the transaction, Apax Funds remains a minority shareholder in the combined business.

Reporting by Iain Gilbert at Sharecast.com

contador