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Hg backs workforce solutions provider Allocate Software

Private equity firm Hg invested an undisclosed amount in U.K.-based Allocate Software Ltd. through its Hg8 fund.

HgCapital Trust plc, which is managed by Hg, will also invest about £14.0 million in Allocate.

Allocate, which provides workforce solutions to the healthcare, defense and maritime industries, is owned by private equity firm Vista Equity Partners.

Hg is the trade name of HgCapital LLP and Hg Pooled Management Ltd. in the U.K. It operates through Hg Advisory GmBH & Co. KG in Germany.

Spurrier Capital Partners was Vista's financial adviser in the transaction.