ECI completes 7 exits generating average 4.2x return and c.60% IRR in 2022

09/01/2023
Read Time: 1 Min
Topic:

ECI are delighted to toast a highly successful 2022, completing 7 exits, averaging a return of 4.2x gross MOIC and c.60% gross IRR. This represented an average uplift of 102% on prior book value. Exits included the sale of programmatic media partner, MiQ, generating a 6.1x return, the sale of the leading marketplace for SMEs, Bionic, for a 4.8x return, and the sale of Ireland-based trust and fund services provider, KB Associates, to Waystone Group delivering a 3.8x return.

We also celebrated two new platform investments:

  • BCN Group, one of the largest and fastest-growing independent managed service providers in the north of England
  • Zenergi, a leading energy and sustainability services provider, with a focus on the education, healthcare and social housing sectors.

The ECI team have continued to support our portfolio with M&A, with 14 acquisitions spanning the UK, Europe and North America, leveraging our proprietary AI lead-sourcing tool, Amplifind™.

In 2022 we further invested in the support we can offer management teams. Our ECI Unlocked programme launched, connecting business leaders across the ECI portfolio, and we launched our Growth Specialist Panel of independent experts, available as needed to support portfolio management teams on projects that will drive value within key focus areas. We also invested within ESG, beginning the process of B Corp certification to strength test and improve our ESG capability.

We have also invested in our own business, expanding our investment team by 20%. 2022 saw us welcome Jin Ni Ooi in the Investment Team, Mia Smith in the Commercial Team, Lesley Davies as Growth Specialist, Adam Whitfield in the Investor Relations Team, Tsvetelina Delcheva and Victoria Gustavsson to the Origination Team, and Marina Lazaro, Marianne Cockle and Natalia Haq to the support team.

“It has been fantastic to deliver such exceptional results for our investors in 2022. This great run of results reflects the quality of the management teams we partner with and the hard work of the ECI team. Despite wider market uncertainty the portfolio grew its revenue and profits by 26% and 31% over the last year. This is a fantastic representation of the growth and resilience that we look for in the companies we back.

We look forward to what is hopefully a buoyant deal market and an active 2023 for ECI. We are extremely well positioned to support our management teams deliver on the fantastic growth opportunities available and to help them to achieve their ambitions.”

Chris Watt

Managing Partner

What do CEOs look for in a leadership team?

View ECI's Growth Characteristics 2022
Growth Characteristics 2022

This site uses cookies to improve your experience.

We use cookies to personalise content and to analyse our traffic. We also share information about your use of our site with our analytics partners. View our cookies page.

Manage cookie preferences

STRICTLY NECESSARY COOKIES REQUIRED

These cookies allow the website to remember choices you make and provide enhanced, more personal features. The information these cookies collect may be anonymized and they cannot track your browsing activity on other websites.

ANALYTICAL/PERFORMANCE COOKIES

These cookies allow us to recognise and count the number of visitors and to see how visitors move around our website when they are using it. This helps us to improve the way our website works, for example, by ensuring that users are finding what they are looking for easily.

TARGETING/MARKETING COOKIES

These cookies allow us to recognise and count the number of visitors and to see how visitors move around our website when they are using it. This helps us to improve the way our website works, for example, by ensuring that users are finding what they are looking for easily.