London firm The Foundry sold for £200m

UK private equity firm HgCapital has purchased London creative software company The Foundry for £200m from The Carlyle Group.

The Foundry develops a host of creative tools such as paint software Mari and 3D modelling tool Modo, used in games such as Borderlands 2. It also recently acquired Made with Mischief, which developed pen-based sketching application Mischief.

“Knowing the direction we plan to take The Foundry, we identified that HgCapital was the ideal partner to build on what The Carlyle Group have helped us achieve,” said The Foundry CEO Bill Collis.

“Nic and his team have such deep software experience, take a long term view on investing and have an amazing track record in taking already solid companies to even greater levels of success. HgCapital achieve this through investment, both in R&D and people, with a deep respect for customer loyalty and satisfaction.”