A recent press release reported on the acquisition of Monotype Imaging Holdings Inc. by HGGC, LLC. The announcement of the completion of the acquisition was made in late July. HGGC is an American middle market private equity investment firm. The organization acquired all outstanding shares of Monotype at the reported sum of $19.85 per share.
Outstanding Shares Sold for Cash
The transfer of shares was completed as a cash transaction that amounted to an approximate aggregate value of $825 million. The privately held company is renowned for its in-depth knowledge and expertise in the private equity sector. The firm is led by an insightful team of highly regarded and innovative executive leaders. In the announcement made by Monotype, the firm expects to achieve an improved client experience that will deliver an increased level of value to them. The Monotype leadership team sees the completed transaction as a notable milestone for the firm. Chief Executive Officer and company President Scott Landers commented that his firm will continue in its strategy of offering a personalized relationship with clients even in light of the increasing use of digital methods.
About HGGC and Monotype
Rich Lawson co-founded the firm, and he serves as its chief executive officer. The Organization was founded in 2007. The corporate transaction received the approval of the stockholders of Monotype on October 9th 2019. The common stocks of the firm have ceased trading as of the following day. The shares were traded on the NASDAQ. J.P. Morgan served as the financial advisor for Monotype. HGGC was served by the professional legal advisory services of Goodwin Procter LLP. Its exclusive financial advisor was Deutsche Bank Securities Inc. Deutsche Bank provided for the debt financing needed to finalize the acquisition. The law firm of Kirkland & Ellis LLP was HGGC’s legal counsel.