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Fourth, a global SaaS provider of labour, payroll, inventory and procurement systems for the restaurant/bar, hotel, contract catering and leisure markets, has acquired Adaco, a supplier of SaaS based purchasing and inventory control solutions to the hotel sector in the US and worldwide. Fourth is backed by UK mid-market firm ECI Partners.
UK-based LDC‘s Sala International has merged with ECI Partners-backed EDM Group. The 52 million pound (US$81.4 million) merger marks an exit for ECI and will create one of the UK’s largest providers of outsourced information management services.
Middle market private equity firm ECI Partners has invested an undisclosed amount in Fourth Hospitality, a provider of back-office software systems for the hospitality sector. The money will help Fourth Hospitality expand geographically and finance new development and acquisitions. Terms of the deal were not released. ECI Partners is based in the UK.
UK-based buyout shop ECI Partners is mulling a sale of portfolio company, Bargain Booze, Reuters reported, citing an article in the Sunday Times. ECI has hired accountancy group KPMG to do a strategic review of the drinks retailer chain, including options including a sale or refinancing of the company.
Axell Wireless, a UK-based provider of wireless coverage solutions for the public safety sector, has acquired Israeli rival Dekolink. No financial terms were disclosed, except that Axell Wireless partially financed the deal via a new investment from existing sponsor ECI Partners.
(Reuters) – Aerospace and defense industry supplier Esterline Technologies Corp (ESL.N) said it will buy UK-based Racal Acoustics for about 115 million pounds ($170.4 million) to enhance its combat troop support equipment capability. Esterline said it will acquire Racal, a provider of military communications equipment, from ECI Partners, a UK-based private equity group. Esterline expects [...]
Mid-market, healthcare IT provider Ascribe has agreed a £32.9m management buyout backed by ECI private equity fund. The offer, by Scroll Bidco, is 28p per share in cash and values Ascribe at £32.9m. Ascribe’s independent directors have been advised by Cenkos, and Altium has advised Scroll Bidco. Scroll Bidco is currently ultimately [...]
ECI Partners, a middle market buyout firm based in the UK, has topped the fundraising target on a new fund. It secured $641 million (£430 million) for the effort, which is called ECI 9. Press Release ECI Partners (“ECI”), a leading UK mid-market buy out specialist, has held the first and final close of its [...]