ECI acquires MThree

Unquote understands that ECI acquired a majority stake in the business, which has an enterprise value of £45m.

MThree will continue to be led by its founder and CEO, Alex Headley, who retained a minority stake in the company.

The investment from ECI will enable the company to accelerate its organic growth strategy and international expansion, according to a statement.  

Unquote understands that ECI drew capital from its ECI 10 fund to finance the investment. The vehicle, launched in April 2014 with a target of £400m, held a final close on its £500m hard-cap in September 2014 and was 70% deployed as of early July. It makes buyout investments in firms with an enterprise value of between £10-150m, operating within the technology, media, telecommunications, business services, consumer, industrial and healthcare sectors. The GP recently launched a new vehicle, ECI 11, which held a first and final close on its hard-cap of £700m in July.

MThree is the third acquisition made by the fund in 2018, following the recent investment in Arkessa and the £50m deal for insurance broker The Clear Group, both inked in July.

Company
Established in 2010 and based in London, MThree is a technology consultancy that works with financial services organisations and technology companies. The company employs around 500 people and has offices in six countries across three continents. MThree generated revenues of £32m in 2017, up 31% on 2016.

People
ECI Partners – Richard Chapman (partner).
MThree Consulting – Alex Headley (founder, CEO).

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