The UK mid-market firm buyout firm HgCapital has sold vehicle leasing business Zenith to Bridgepoint in a £750 million deal.

The sale is the second-largest exit by value that HgCapital has made to date. The deal netted HgCapital a 2.9 times return on invested capital and a 46% gross internal rate of return over a three-year investment period, according to analysts at Numis and a person familiar with the matter.