Apax Partners and GIC to acquire a majority stake in ECI Software Solutions from Leonard Green & Partners.

Private equity firms Apax Partners and GIC, agreed to acquire a majority stake in ECI Software Solutions, a provider of industry-specific, cloud-based business management software, from Leonard Green & Partners, a private equity firm. Upon completion of the transaction, the Apax Funds will become a co-control owner of ECI, in partnership with Leonard Green & Partners. Financial terms were not disclosed. “Since the Apax Funds first invested eight years ago, ECI has transformed into a scaled and market-leading SaaS provider. Its organic growth has accelerated meaningfully while, at the same time, the Company has achieved a five-fold expansion in EBITDA. We are backing mission-critical software players like ECI to create sub-sector champions, using our deep experience of the sector and leveraging our Operational Excellence team to drive value creation. We look forward to continuing our partnership with the management team and LGP to drive this growth," Jason Wright, Apax Partner.