Congratulations to the team at CarTrawler. ECI 9’s first exit won the mid-market exit of the year award at the British Private Equity awards last night.
In April this year ECI sold CarTrawler, the global online car rental platform, to BC Partners and Insight Venture Partners, receiving a multiple of 6x its initial investment and achieving ECI’s biggest exit by value to date.
Based in Dublin, CarTrawler is the leading global provider of multi branded car rental solutions to partners in the travel industry, including airlines, OTAs and other online travel related operators. It has over 1,000 partners, connecting end customers to more than 1,200 suppliers across 30,000 pickup locations. It also operates online car rental sites under the Holiday Autos and Argus Car Hire brands.
ECI invested in CarTrawler in May 2011, assisting the company to attract additional management talent, accelerate growth and expand its international footprint. CarTrawler’s revenues and profits have more than trebled since ECI invested and headcount has doubled as the company has expanded into new international markets. In June 2013, CarTrawler acquired the brand and online assets of Holiday Autos, another former ECI investment, to strengthen the company’s position in the direct to consumer channel.