Leonard Green & Partners to acquire a majority stake in ECI Software from Apax Partners and The Carlyle Group.

Leonard Green & Partners, a private equity firm, agreed to acquire a majority stake in ECI Software, a provider of cloud-based business management software solutions, from Apax Partners and The Carlyle Group. Upon completion of the transaction, funds advised by Apax Partners will retain a minority stake in ECI. Financial terms were not disclosed. "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 – 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's growth," Usama Cortas, LGP Partner.