Geof Eeles, Racal Acoustics' CEO, won Best Investment / Exit at the inaugural BVCA CEO awards on 14th October 2009.
ECI invested in Racal Acoustics in August 2005 backing the management team, led by Geof Eeles, in a buyout from JF Lehman, a US private equity investor. Since then, the business has experienced dramatic growth which it expects to continue as militaries focus on improving communications and hearing protection for the fighting soldier. Revenues grew by 110% from 2005 to 2009, and profits in the same period were up nearly 150%.
ECI sold the business to Esterline Technologies Corporation for £115m in January 2009.
Simon Havers, chairman of the BVCA said,
“This year of all years has been the one to salute the leaders of the portfolio companies owned by private equity and venture capital houses. They are often the unsung heroes of our industry and we at the BVCA were determined to compensate for this by cheering them in the loudest possible way tonight."
Ken Lindsay, ECI director who led the Racal Acoustics deal for ECI said,
“Geof is a thoroughly deserving winner of this inaugural award. I would like to take this opportunity to thank him and his team for all their hard work over the last few years and wish them all the best for the future.”
Click here to see Geof Eeles and Ken Lindsay speak about the Racal deal on video.
Click on the BVCA link below to see all of the National Winners.
http://www.bvcaceoawards.com/pages/categories-and-shortlists.html