PRINT THIS PAGE HgCapital's Xyratex in $400m Nasdaq float24/06/2004. Source: AltAssets. 
 European mid-market private equity firm HgCapital is exiting its investment in data storage provider Xyratex in an initial public offering that values the company at $400m. Despite having its headquarters in the UK, Xyratex will be listed on the Nasdaq stock exchange.
The IPO sees Xyratex offer its shares at $14 each, meaning that HgCapital's investment of $50m made in 2003 is now worth $145m at the issue price.
'Xyratex is a UK-founded company that has expanded globally over the last decade and is now an established leader in key segments of the external storage and networking markets with a presence in the US, Asia and Europe,' said Nic Humphries, head of HgCaptial's technology team. We remain a significant shareholder in the business because we believe management's growth strategy will be successful.'
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