ECI backs Arkessa MBO

The company will pursue an international expansion strategy and look to capitalise on the increasing demand for connected devices across a wide range of applications, including smart metering, logistics, smart cities, industrials, healthcare and connected cars.

Unquote understands that the transaction was conducted on an all-equity basis, and that the GP acquired a majority stake via the transaction.

The transaction is ECI's third deal of 2018 and comes shortly after the GP invested in insurance broker The Clear Group, a deal that Unquote understands was valued at more than £50m.

ECI is currently investing from its 10th fund, which closed on £500m in 2014. The vehicle was 70% deployed as of early July, according to Unquote Data, and typically backs the buyouts of firms with enterprise values of £20-150m.

Company
Founded in 2009 and headquartered in Bishop's Stortford, Hertfordshire, Arkessa provides and manages machine-to-machine software and services, enabling businesses to integrate Internet-of-Things connectivity into their devices. Its customers and partners include Fujitsu, Siemens and Avnet.

People
ECI Partners – Paul McCreadie (partner).
Arkessa – Andrew Orrock (CEO); John Freeman (chief technology officer); Phil McDermott (chief commercial officer).

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