UK - ECI backs £52m buyout of Kelvin Hughes

ECI Partners has backed the ТЃ52m buyout of navigational technology business Kelvin Hughes from Smiths Group Plc, the listed technology company. The purchase price comprises ТЃ48m which was paid in cash on completion of the purchase and a deferred payment of up to ТЃ4m depending on certain conditions being satisfied. Senior members of Kelvin Hughes management invested alongside ECI, becoming shareholders in the business. Senior debt funding for the transaction was provided by Royal Bank of Scotland.