ECI makes £45m investment in technology consultancy MThree
Private equity firm ECI Partners announced today it has made an investment into MThree, a global technology consultancy that trains graduates for roles in financial services organisations and tech companies.
The investment is aimed to allow MThree, which was founded in 2010, to increase overseas expansion and accelerate growth. The value of the investment was not disclosed, but is understood to be around £45m.
MThree founder and chief executive Alex Headley, who will continue to lead the firm, said there was: “growing demand for our services as the global war for tech talent heats up”.
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“ECI has a strong track record in helping growth companies to realise their full potential, and today’s investment will help us to meet this growing demand,” he said.
The technology consultancy has seen year-on-year growth, with revenue up 31 per cent to £32m last year. It employs 500 people across six offices, in the US, Africa, Asia and Europe. One of the company’s signature projects is its ‘Alumni’ brand, which trains STEM graduates and places them into roles in banking and other business sectors.
Headley said its student development programme is: “underpinned by expertise in our successful consulting practice, which gives us a deep understanding of the challenges our clients face.”
Richard Chapman, a partner at ECI – a mid-market firm which currently manages around £1.7bn for investors – welcomed the deal, saying: “MThree operates in a very promising market and the company has an excellent reputation with a stellar list of quality clients.”
ECI has overseen over 100 successful exits over 40 years, with recent deals including travel company Great Rail Journeys, marine supply company Kelvin Hughes, and power-plant firm Clarke Energy.