BV Investment Partners has sold ECRM to Snow Phipps Group. No financial terms were disclosed. Robert W. Baird & Co. served as financial adviser to ECRM and BV on this transaction. ECRM is a software, data and integrated services provider for consumer product makers and retailers.
BOSTON, June 23, 2016 – BV Investment Partners (“BV”), a middle-market private equity firm focused on the information and business services and communications sectors, today announced the sale of ECRM, an integrated services, software, and data provider serving consumer product manufacturers and retailers, to Snow Phipps Group.
ECRM drives efficiencies in the buying and selling processes between consumer product manufacturers and retailers via its portfolio of highly-focused, Efficient Program Planning Sessions (EPPS) and proprietary software that streamlines interactions between trading partners before, during and after each session. The company serves manufacturers and retailers within a number of key product categories including health and beauty care, general merchandise, food and beverage, pharmaceuticals, electronics and others. BV acquired the business in July 2013 through a proprietary transaction with the Company’s founding family, who maintained a minority position in the Company.
Justin Harrison, Managing Director of BV, said, “Over the last three years we have worked closely with CEO Greg Farrar and the management team to execute successfully on our multi-faceted strategic operating plan for ECRM. The achievements include increasing attendance at existing EPPS meetings, expanding into new categories, acquiring a complementary outdoor sporting press event business, upgrading the software, and creating year-round client engagement through the creation of unique content and revising the sales model. Greg and his team also successfully scaled and sold ECRM’s data business during the course of our ownership. We’re very pleased with the outcome of these efforts for both our investors and ECRM’s clients and employees.”
Greg Farrar, Chief Executive Officer of ECRM, said, “After being recruited by BV at the time of its investment, we quickly put our heads together to architect the blueprints for the Company’s growth strategy. Rarely does a plan prevail as successfully on multiple levels as it has during this partnership. Our strong working relationship with BV and their Operating Advisory Board Member, Dan O’Shea, provided us with the insights, flexibility, and resources to significantly invest in our business to drive significant organic growth and enhance our value to our clients and to the industry. I’m proud of the work we did together and look forward to continuing to lead this organization and to providing exceptional service to our clients and industry partners.”
Robert W. Baird & Co. served as financial advisor and Choate, Hall and Stewart acted as legal counsel to ECRM and BV Investment Partners in this transaction.
BV Investment Partners is currently investing its eighth private equity fund. The firm is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested over $2.7 billion in 84 companies, actively targeting investments in the information and business services and communications industries. For more information, please visit www.bvlp.com.