{"id":385031,"date":"2020-11-19T08:33:40","date_gmt":"2020-11-19T13:33:40","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=385031"},"modified":"2020-11-19T08:33:40","modified_gmt":"2020-11-19T13:33:40","slug":"eci-software-solutions-to-be-acquired-by-leonard-green-partners-funds-advised-by-apax-partners-to-retain-minority-stake","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/eci-software-solutions-to-be-acquired-by-leonard-green-partners-funds-advised-by-apax-partners-to-retain-minority-stake\/","title":{"rendered":"ECI Software Solutions to Be Acquired by Leonard Green &amp; Partners; Funds Advised by Apax Partners to Retain Minority Stake"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">FORT WORTH, Texas<\/span>, <span class=\"xn-chron\">Nov. 19, 2020<\/span> \/PRNewswire\/ &#8212; ECI Software Solutions (&#8220;ECI&#8221;), a leader in cloud-based business management software solutions for small and medium sized companies, today announced that <span class=\"xn-person\">Leonard Green<\/span> &amp; Partners (&#8220;LGP&#8221;) will acquire a majority stake in the company from funds advised by Apax Partners and The Carlyle Group. Upon completion of the transaction, funds advised by Apax Partners, which acquired ECI in 2017, will retain a minority stake in ECI.\u00a0Financial terms of the transaction were not disclosed.<\/p>\n<p>ECI is the premier provider of Enterprise Resource Planning (&#8220;ERP&#8221;) solutions, such as accounting, purchasing, warehousing and inventory management, to more than 22,000 customers globally. Under the Apax Funds&#8217; and Carlyle&#8217;s ownership, ECI has experienced rapid growth both organically and through strategic M&amp;A. Since 2017, ECI has made 15 acquisitions, helping it gain significant market share and scale internationally, with sizeable transactions in <span class=\"xn-location\">Europe<\/span> and <span class=\"xn-location\">Australia<\/span> consolidating its presence in those regions.<\/p>\n<p>&#8220;The ECI team and I have had a powerful partnership with Apax and Carlyle as we have built the company into a leading SaaS business software solutions and services provider,&#8221; said\u00a0<b><span class=\"xn-person\">Ron Books<\/span>, ECI&#8217;s Chief Executive Officer<\/b>. &#8220;They have been instrumental in the tremendous growth of our company, and we are proud of what we accomplished together. We are excited to welcome LGP as our new partner, and I am confident that this is the right choice for our future \u2013 and the future of our 1,700 employees and more than 22,000 customers.&#8221;\u00a0<\/p>\n<p>\n        <b><br \/>\n          <span class=\"xn-person\">Usama Cortas<\/span>, Partner at LGP, <\/b>said: &#8220;We are delighted to be partnering with a mission-driven company like ECI, which is focused on supporting the activities and growth of small to medium-sized businesses around the world. We invest in companies that win with people, have a differentiated culture and are market leaders with multiple ways to grow \u2013 and ECI is the perfect example. ECI has built an incredible track record of success, and we are excited to be partnering with ECI Management and Apax to support and accelerate the next phase of the company&#8217;s growth.&#8221; <\/p>\n<p>\n        <b><br \/>\n          <span class=\"xn-person\">Jason Wright<\/span>, Partner at Apax Partners<\/b>, said: &#8220;We have been proud to partner with <span class=\"xn-person\">Ron Books<\/span> and the ECI management team over the past three years as they have executed their plan and transformed the Company through investment in products, international expansion and the completion of 15 acquisitions. Importantly, Ron and the team have instilled a unique culture that is customer-centric and employee-friendly. We&#8217;re excited about the opportunity to partner with LGP during this next phase of ECI&#8217;s growth.&#8221;<\/p>\n<p>\n        <b><br \/>\n          <span class=\"xn-person\">Steve Bailey<\/span>, Managing Director at Carlyle<\/b>, said: &#8220;It has been a tremendous journey with Ron and the ECI team and Apax over the years. Carlyle&#8217;s strategy is to focus on vertical market SaaS investments or successfully transition software businesses to a SaaS model. Our partnership with ECI is a great example of the latter. Through embracing the opportunity in SaaS, ECI has accelerated its growth while also benefitting from strategic acquisitions. We wish the team every success for the future.&#8221;<\/p>\n<p>BofA Securities is acting as lead financial advisor, Barclays as financial advisor, and Skadden, Arps, Slate, Meager &amp; Flom as legal advisor to Apax Partners and ECI. Latham &amp; Watkins LLP acted as legal advisor to LGP. <\/p>\n<p>\n        <b>About ECI<\/b><br \/>\n        <br \/>ECI Software Solutions provides industry-specific business software solutions and services, focusing on cloud-based technologies. For 30+ years, ECI has served small to medium-sized manufacturing, wholesale\/retail distribution, building and construction, and field service organizations. Privately held, ECI is headquartered in <span class=\"xn-location\">Fort Worth, Texas<\/span>, USA, with offices throughout the U.S., <span class=\"xn-location\">Canada<\/span>, <span class=\"xn-location\">Mexico<\/span>, <span class=\"xn-location\">England<\/span>, <span class=\"xn-location\">the Netherlands<\/span>, and <span class=\"xn-location\">Australia<\/span>. For information, email <a href=\"mailto:info@ecisolutions.com\" rel=\"nofollow\">info@ecisolutions.com<\/a>, visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2987989-1&amp;h=3602612853&amp;u=http%3A%2F%2Fwww.ecisolutions.com%2F&amp;a=www.ECISolutions.com\" rel=\"nofollow noopener noreferrer\">www.ECISolutions.com<\/a>\u00a0or call (800) 959-3367.<\/p>\n<p>\n        <b>About Apax Partners LLP <\/b><br \/>\n        <br \/>Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of approximately <span class=\"xn-money\">$50 billion<\/span>. The Apax Funds invest in companies across four global sectors of Tech &amp; Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: <a href=\"http:\/\/www.apax.com\" rel=\"nofollow\">www.apax.com<\/a>.\u00a0 <\/p>\n<p>\n        <b>About The Carlyle Group<\/b><br \/>\n        <br \/>The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With <span class=\"xn-money\">$230 billion<\/span> of assets under management as of <span class=\"xn-chron\">September 30, 2020<\/span>, Carlyle&#8217;s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 30 offices across six continents. Further information is available at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2987989-1&amp;h=356401988&amp;u=http%3A%2F%2Fwww.carlyle.com%2F&amp;a=www.carlyle.com\" rel=\"nofollow noopener noreferrer\">www.carlyle.com<\/a>. Follow Carlyle on Twitter @OneCarlyle.<\/p>\n<p>\n        <b>About <span class=\"xn-person\">Leonard Green<\/span> &amp; Partners<\/b><br \/>\n        <br \/>\n        <span class=\"xn-person\">Leonard Green<\/span> &amp; Partners, L.P. is a leading private equity investment firm founded in 1989 and based in <span class=\"xn-location\">Los Angeles<\/span>. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has invested in over 100 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. LGP primarily focuses on companies providing services, including consumer, business, and healthcare services, as well as retail, distribution, and industrials. For more information, please visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2987989-1&amp;h=3295058391&amp;u=http%3A%2F%2Fwww.leonardgreen.com%2F&amp;a=www.leonardgreen.com\" rel=\"nofollow noopener noreferrer\">www.leonardgreen.com<\/a>. <\/p>\n<p>\n        <b>ECI Media Contacts<\/b><br \/>\n        <br \/>\n        <span class=\"xn-person\">Wendi Sabo<\/span> | +1 214 683 9217 | <a target=\"_blank\" href=\"mailto:wsabo@ecisolutions.com\" rel=\"nofollow noopener noreferrer\">wsabo@ecisolutions.com<\/a><\/p>\n<p>\n        <b>Apax Media Contacts\u00a0<br \/><\/b>Katarina Sallerfors | +44 207 872 6526 |\u00a0<a target=\"_blank\" href=\"mailto:katarina.sallerfors@apax.com\" rel=\"nofollow noopener noreferrer\">katarina.sallerfors@apax.com<\/a><br \/>Kekst CNC | +1 212 521 4854 |\u00a0<a target=\"_blank\" href=\"mailto:todd.fogarty@kekstcnc.com\" rel=\"nofollow noopener noreferrer\">todd.fogarty@kekstcnc.com<\/a><br \/>Greenbrook | +44 20 7295 2000 |\u00a0<a target=\"_blank\" href=\"mailto:apax@greenbrookpr.com\" rel=\"nofollow noopener noreferrer\">apax@greenbrookpr.com<\/a><\/p>\n<p>\n        <b>Carlyle Media Contacts<br \/><\/b><br \/>\n        <span class=\"xn-person\">Brittany Berliner<\/span> | +1 (516) 404-2369 | <a target=\"_blank\" href=\"mailto:brittany.berliner@carlyle.com\" rel=\"nofollow noopener noreferrer\">brittany.berliner@carlyle.com<\/a><br \/><span class=\"xn-person\">Andrew Kenny<\/span> | +44 7816 176120 | <a target=\"_blank\" href=\"mailto:andrew.kenny@carlyle.com\" rel=\"nofollow noopener noreferrer\">andrew.kenny@carlyle.com<\/a><\/p>\n<p>\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY98102&amp;sd=2020-11-19\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/eci-software-solutions-to-be-acquired-by-leonard-green--partners-funds-advised-by-apax-partners-to-retain-minority-stake-301177183.html\">http:\/\/www.prnewswire.com\/news-releases\/eci-software-solutions-to-be-acquired-by-leonard-green&#8211;partners-funds-advised-by-apax-partners-to-retain-minority-stake-301177183.html<\/a><\/p>\n<p>SOURCE  ECI Software Solutions; <span class=\"xn-person\">Leonard Green<\/span> &amp; Partners; Apax Partners<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=NY98102&amp;Transmission_Id=202011190830PR_NEWS_USPR_____NY98102&amp;DateId=20201119\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire FORT WORTH, Texas, Nov. 19, 2020 \/PRNewswire\/ &#8212; ECI Software Solutions (&#8220;ECI&#8221;), a leader in cloud-based business management software solutions for small and medium sized companies, today announced that Leonard Green &amp; Partners (&#8220;LGP&#8221;) will acquire a majority stake in the company from funds advised by Apax Partners and The Carlyle Group. Upon completion of the transaction, funds advised by Apax Partners, which acquired ECI in 2017, will retain a minority stake in ECI.\u00a0Financial terms of the transaction were not disclosed. ECI is the premier provider of Enterprise Resource Planning (&#8220;ERP&#8221;) solutions, such as accounting, purchasing, warehousing and inventory management, to more than 22,000 customers globally. Under the Apax Funds&#8217; and Carlyle&#8217;s ownership, ECI has experienced rapid growth &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/eci-software-solutions-to-be-acquired-by-leonard-green-partners-funds-advised-by-apax-partners-to-retain-minority-stake\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ECI Software Solutions to Be Acquired by Leonard Green &amp; Partners; Funds Advised by Apax Partners to Retain Minority Stake&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-385031","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ECI Software Solutions to Be Acquired by Leonard Green &amp; Partners; Funds Advised by Apax Partners to Retain Minority Stake - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/eci-software-solutions-to-be-acquired-by-leonard-green-partners-funds-advised-by-apax-partners-to-retain-minority-stake\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ECI Software Solutions to Be Acquired by Leonard Green &amp; Partners; Funds Advised by Apax Partners to Retain Minority Stake - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire FORT WORTH, Texas, Nov. 19, 2020 \/PRNewswire\/ &#8212; ECI Software Solutions (&#8220;ECI&#8221;), a leader in cloud-based business management software solutions for small and medium sized companies, today announced that Leonard Green &amp; Partners (&#8220;LGP&#8221;) will acquire a majority stake in the company from funds advised by Apax Partners and The Carlyle Group. Upon completion of the transaction, funds advised by Apax Partners, which acquired ECI in 2017, will retain a minority stake in ECI.\u00a0Financial terms of the transaction were not disclosed. ECI is the premier provider of Enterprise Resource Planning (&#8220;ERP&#8221;) solutions, such as accounting, purchasing, warehousing and inventory management, to more than 22,000 customers globally. Under the Apax Funds&#8217; and Carlyle&#8217;s ownership, ECI has experienced rapid growth &hellip; Continue reading &quot;ECI Software Solutions to Be Acquired by Leonard Green &amp; Partners; Funds Advised by Apax Partners to Retain Minority Stake&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/eci-software-solutions-to-be-acquired-by-leonard-green-partners-funds-advised-by-apax-partners-to-retain-minority-stake\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-19T13:33:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY98102&amp;sd=2020-11-19\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/eci-software-solutions-to-be-acquired-by-leonard-green-partners-funds-advised-by-apax-partners-to-retain-minority-stake\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/eci-software-solutions-to-be-acquired-by-leonard-green-partners-funds-advised-by-apax-partners-to-retain-minority-stake\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"ECI Software Solutions to Be Acquired by Leonard Green &amp; 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Partners; Funds Advised by Apax Partners to Retain Minority Stake - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/eci-software-solutions-to-be-acquired-by-leonard-green-partners-funds-advised-by-apax-partners-to-retain-minority-stake\/","og_locale":"en_US","og_type":"article","og_title":"ECI Software Solutions to Be Acquired by Leonard Green &amp; Partners; Funds Advised by Apax Partners to Retain Minority Stake - Market Newsdesk","og_description":"PR Newswire FORT WORTH, Texas, Nov. 19, 2020 \/PRNewswire\/ &#8212; ECI Software Solutions (&#8220;ECI&#8221;), a leader in cloud-based business management software solutions for small and medium sized companies, today announced that Leonard Green &amp; Partners (&#8220;LGP&#8221;) will acquire a majority stake in the company from funds advised by Apax Partners and The Carlyle Group. Upon completion of the transaction, funds advised by Apax Partners, which acquired ECI in 2017, will retain a minority stake in ECI.\u00a0Financial terms of the transaction were not disclosed. ECI is the premier provider of Enterprise Resource Planning (&#8220;ERP&#8221;) solutions, such as accounting, purchasing, warehousing and inventory management, to more than 22,000 customers globally. Under the Apax Funds&#8217; and Carlyle&#8217;s ownership, ECI has experienced rapid growth &hellip; Continue reading \"ECI Software Solutions to Be Acquired by Leonard Green &amp; Partners; Funds Advised by Apax Partners to Retain Minority Stake\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/eci-software-solutions-to-be-acquired-by-leonard-green-partners-funds-advised-by-apax-partners-to-retain-minority-stake\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-19T13:33:40+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY98102&amp;sd=2020-11-19","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/eci-software-solutions-to-be-acquired-by-leonard-green-partners-funds-advised-by-apax-partners-to-retain-minority-stake\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/eci-software-solutions-to-be-acquired-by-leonard-green-partners-funds-advised-by-apax-partners-to-retain-minority-stake\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"ECI Software Solutions to Be Acquired by Leonard Green &amp; 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