ECI sells Imagesound to Livingbridge for 2.6x money

The group operates two brands across 160 countries to provide in-store audio and visual solutions to retail, leisure and hotel companies. 

ECI acquired the company in 2016, in an all-equity deal that pre-empted a process, as reported. 

Imagesound is the eighth exit from ECI's 2015 vintage fund and the third exit from ECI 10, the vendor said.

The vendor said it has transformed Imagesound from being predominantly UK-based to a global business, with international revenue growing from 10% to more than half. 

Imagesound also opened new offices in Miami, Shanghai and Dubai and bolted-on four acquisitions.  

The company had revenue of GBP 16m in 2020, down from GBP 20m largely due to the pandemic impact on in-store retail, according to its latest filed accounts. 

Advisors

ECI - Canaccord Genuity (corporate finance advice); Addleshaw Goddard (legal); KPMG (financial due diligence); LEK (commercial ); Intechnica (IT DD).

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