• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deals search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Unquote
  • Exits

ECI sells MThree to trade after 18 months

  • Greg Gille
  • Greg Gille
  • @unquotenews
  • 07 January 2020
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

UK private equity house ECI Partners has sold education services provider MThree to US-listed group John Wiley & Sons for a price tag in excess of £100m.

This concludes a very short holding period for the GP, which bought the business in August 2018. ECI reaped a 2.7x return and 100% IRR on its investment, according to a source close to the situation.

The deal with John Wiley & Sons closed on 1 January, with MThree shareholders receiving approximately £98m in cash.

MThree

  • DEAL:

    Trade sale

  • VALUE:

    c£100m

  • LOCATION:

    London

  • SECTOR:

    Business support services

  • FOUNDED:

    2010

  • TURNOVER:

    c£38m

  • VENDOR:

    ECI Partners

  • RETURNS:

    2.7x, 100% IRR

The US-listed buyer is a research and education group that works with students, researchers, universities and corporations through a range of platforms and services. MThree will become part of its education services portfolio.

Previous funding
ECI acquired a majority stake in MThree in 2018, for an enterprise value of £45m. MThree continued to be led by its founder and CEO, Alex Headley, who retained a minority stake in the company.

ECI drew capital from its ECI 10 fund to finance the investment. The vehicle held a final close on its £500m hard-cap in September 2014.

Company
Established in 2010 and based in London, MThree is a technology consultancy that works with financial services organisations and technology companies. It sources and trains aspiring students and professionals for tech careers, and places them with corporations and institutions worldwide. It also works with clients to retrain existing employees.

MThree generated revenues of £32m at the time of ECI's investment. According to a statement, it is now on course for 2019 revenues of $50m (£38m), with an expected 20% growth rate.

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

Advisers
Equity – Addleshaw Goddard (legal).
Company – Jefferies (corporate finance).
Management – Osborne Clarke (legal).

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • Exits
  • UK / Ireland
  • Support services
  • ECI Partners
  • Trade sale

More on Exits

Public sector software
Partners Group to release IMs for Civica sale in mid-September

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • Exits
  • 04 September 2023
Lender taking the keys from a sponsor
Ares Management handed keys to two-thirds of UK sponsor’s portfolio

Lender provided GBP 500m for three of the GP's deals between 2016 and 2019, Debtwire reported

  • Financing
  • 30 August 2023
Luggage and airport services
Actera Group explores strategic options for Celebi Ground Handling

Several investors placed bids for the company in 2022 but mismatch in pricing didn't lead to a deal

  • Exits
  • 30 August 2023
HR software solutions providers
Main Capital’s Assessio to be sold to Pollen Street

Recruitment software company tripled in revenue under Main Capital’s ownership

  • Buyouts
  • 25 August 2023

Latest News

Fund closes in US dollars
  • Funds
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote

  • 05 September 2023
Clinical trials and biotechnology
  • Buyouts
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • 04 September 2023
Public sector software
  • Exits
Partners Group to release IMs for Civica sale in mid-September

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • 04 September 2023
EMEA Public to Private M&A
  • Investments
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • 04 September 2023
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013