ECi Software Solutions Acquired by The Carlyle Group20 Mar, 2014
Fort Worth, TX / Washington, D.C. — March 2014 - ECi Software Solutions, a leader in industry-specific business management and e-commerce software solutions, announced it has been acquired by global alternative asset manager The Carlyle Group. Terms of the transaction were not disclosed.
ECi Software Solutions is a leading provider of industry-specific business management and e-commerce software for growing and midsize companies in a broad variety of industries, including office products, office furniture, office equipment, lumber/building materials, hardware, manufacturing, retail distribution and many more. ECi combines technological innovation with a dedicated customer focus to deliver fully integrated solutions that fuel the expansion and efficiency of every aspect of customers’ operations.
"We are very happy to partner with The Carlyle Group to continue building our leading industry-specific business and e-commerce solutions across a variety of important industries,” said Ron Books, President and CEO of ECi Software Solutions. “Carlyle is committed to investing in ECi as we support the entrepreneurial spirit and profitable growth of small and medium size enterprises. I am confident that with Carlyle, we have made the right choice for the future of our employees, our customers, and our business partners.”
Charles Rossotti, Carlyle Operating Executive, said, “ECi has developed a proven and effective capacity to provide small and medium size enterprises with technology solutions that make them competitive with much larger businesses. We believe this capacity is a very special asset for the global economy, in which small businesses generate so much innovation and job growth.”
Steve Bailey, Carlyle Managing Director, added, “Carlyle’s investment will enable ECi to continue investing in its great people, delivering exceptional customer service, enhancing the functionality and features of its leading solutions, and expanding its global footprint.”
Equity for the investment came from Carlyle U.S. Equity Opportunity Fund, which is a Carlyle fund focused on middle market investments. Carlyle has a long history of successful investments in leading middle market, industry-specific application software solutions companies, including Compusearch, serving the government sector; Gemcom, serving the mining sector; Primatics, serving the financial services sector; Quorum, serving the energy sector; RMI, serving the rail sector; and SchoolNet, serving the education sector. Other select middle market investments include Dynamic Precision Group, an aerospace component manufacturer; Philadelphia Energy Solutions (formerly Sunoco Refinery); Service King, the third largest collision repair multi-shop operator in the United States; and Worldstrides, a provider of educational student travel programs.
ECi was advised by Willkie Farr & Gallagher LLP and Harris Williams & Co., and Carlyle was advised by Latham & Watkins LLP and PricewaterhouseCoopers LLP.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with approximately $189 billion of assets under management across 118 funds and 100 fund of funds vehicles as of December 31, 2013. Carlyle's purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,500 people in 34 offices across six continents.
The ECi Software Solutions family of companies provides business and e-commerce solutions, offering on-premise and cloud-based technologies. For 30+ years, ECi companies have served the manufacturing, office equipment, office supplies, contract office furniture, lumber and building materials, hardware and jan/san sectors. Privately held, ECi is headquartered in Fort Worth, Texas, USA, with offices and companies throughout the U.S., Australia, England and the Netherlands. For more information, email http://firstname.lastname@example.org, visit http://www.ECiSolutions.com or call (800) 959-3367.