- Investment company HgCapital Trust said it had invested about £22.0m in The Citation, a provider of HR and employment law, health & safety, and ISO services.

The terms of the transaction were not disclosed.

HgCapital Trust estimated it had liquid resources available for future deployment of £294m.

'The investment will reduce HGT's outstanding commitments to invest in Hg transactions to approximately £792m,' the company said.

Hg first invested in Citation in 2016. In August this year, Hg announced the sale of Citation to KKR, an investment firm, but was given the option to reinvest in the next phase of the company's growth.

In a separate statement, the company said it had sold A-Plan, a UK-based specialist insurance intermediary, to Howden, an insurance broking group.

The terms of the transaction were not disclosed and the acquisition remained subject to regulatory approval.

Story provided by