ECI Partners has sold LateRooms, the online hotels specialist, to First Choice Holidays Plc for £108m. This represents an IRR of over 500% and a money multiple of over 9x on ECI’s investment in two years.
Merged company will have combined revenues of around €8m in 2020, and employ over 50 staff.
Digitalisation and project life cycle management business intends to expand in DACH and Benelux
Fund invests in pre-series-A and series-A rounds to support the growth of startups operating across a large variety of sectors
In conjunction with the announcement, the firm has hired an investment team from TenX Health