ECI sells Arkessa to trade for 2.1x return

The investment generated an IRR of more than 30%, according to a statement.

The acquirer is Montagu Private Equity portfolio company Wireless Logic. ECI Partners acquired the business in 2011 for £38m, selling it on to CVC in 2015 and generating a 6.1x return on the sale. Montagu purchased the business from CVC’s growth fund in 2018.

Arkessa was held in ECI’s 10th fund, which closed on £500m in 2014. It typically backed the buyouts of firms with enterprise values of £20-150m and has made several realisations to date, including ATG Media, Evans Cycles and MPM Products.

Previous funding
ECI invested in the company in 2018 on an all-equity basis. The GP acquired a majority stake via the transaction.

The GP supported to acquisition of Netherlands-based Sim Services by Arkessa in August 2020.

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).

Advisers
Company – IA Global Capital (corporate finance); Squire Patton Boggs (legal).

 

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Portfolio management
• UK / Ireland
• Technology
• United Kingdom
• Trade sale
• Montagu Private Equity
• Build-up
• ECI Partners