Tusker, the UK’s market leading employee benefits car provider, today announced a new major shareholder, private equity group ECI Partners, to support their continued rapid growth.
ECI Partners has invested in the business, with the previous investors, Smedvig Capital, exiting after a highly successful relationship with the company.
ECI is one of the UK’s most successful private equity groups and specialises in investing in mid-market, high-growth companies. Commenting on the new financial structure, Tusker’s CEO, David Hosking said: “This is a very exciting time for us. Tusker is now a substantial business generating revenues in excess of £100m and we are excited to have ECI as our new partner. Their depth of experience and extensive level of engagement with our team will provide a great platform from which we can continue our exceptional growth.”
The existing management team of David Hosking (Chief Executive Officer), David Brockwell (Chief Financial Officer), and Mark Sinclair (Chief Operations Officer) will remain in place to continue to execute the highly successful strategic plan. They will be joined by the newly appointed Chairman Richard Prosser, who replaces Sir Trevor Chinn who is stepping down.