M&A Deal Summary

ECI Partners Acquires Tusker

On February 19, 2015, private equity firm ECI Partners acquired internet software and services company Tusker from Smedvig Capital

Acquisition Highlights
  • This is ECI Partners’ 6th transaction in the Internet Software and Services sector.
  • This is ECI Partners’ 48th transaction in the United Kingdom.
Investment Fate
  • Tusker was sold to a publicly-traded strategic buyer in 2023.

M&A Deal Summary

Date 2015-02-19
Target Tusker
Sector Internet Software and Services
Buyer(s) ECI Partners
Sellers(s) Smedvig Capital
Deal Type Secondary Buyout

Target

Tusker

Hertfordshire, United Kingdom
Tusker is a car benefit scheme provider. As a digital B2B2C business, it supports employers in retaining staff and enhancing employee engagement by providing employees with a salary-saving scheme to access a new, fully insured, and maintained car. Tusker’s cars are also a great way to go green, with 80% of new orders for electric cars. Tusker was founded in 2000 and is based in Hertfordshire, United Kingdom.

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Buyer(S) 1

Buyer

ECI Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 2.0B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

ECI Partners is a private equity firm focused on the smaller middle-market company that invests in growing businesses valued up to £300m. ECI looks for UK businesses or businesses with a substantial presence in the UK. Funds are generally used to support expansion, acquisitions, management buyouts, buy-ins, turnarounds, and refinancing. Target sectors include IT services, support services, Insurance, and SME services. ECI will not invest in early-stage companies. ECI Partners was formed in 1976 and has offices in London, Manchester, and New York.


DEAL STATS #
Overall 52 of 78
Sector: Internet Software and Services M&A 6 of 13
Type: Secondary Buyout M&A Deals 9 of 21
Country: United Kingdom M&A 48 of 73
Year: 2015 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-10 Wireless Logic Group

Berkshire, United Kingdom

Wireless Logic Group is a machine-to-machine (M2M) managed services provider combining infrastructure, platforms and connectivity. Wireless Logic Group was founded in 2000 and is based in Berkshire, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-01 Evans Cycles

Crawley, United Kingdom

F.W. Evans Cycles (UK) Ltd. is an operator of specialist cycling retailer. F.W. Evans Cycles (UK) Ltd. was founded in 1921 and is based in Crawley, United Kingdom.

Buy £110M

Seller(S) 1

SELLER

Smedvig Capital

London, United Kingdom

Investor Investor Investor Investor


Category Venture Capital Firm
Founded 1996
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Smedvig Capital is a venture capital and business growth firm that typically targets investment opportunities in the UK. Smedvig seeks both direct buyout and growth capital investments and also makes investments in other third party private equity funds. Smedvig's direct investment practice targets equity investments of £3 to £10 million in businesses valued up to £30 million. Areas of interest include information management, financial services, consumer goods, retail, and support services. Smedvig Capital was formed in 1996 and is based in London.


DEAL STATS #
Overall 15 of 21
Sector: Internet Software and Services M&A 1 of 3
Type: Secondary Buyout M&A Deals 3 of 4
Country: United Kingdom M&A 11 of 16
Year: 2015 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-22 Veeve

London, United Kingdom

Unique Ventures Ltd. is a home rental company that offers a fully managed service for London homeowners to rent out their homes whilst they are away. Unique Ventures was established in 2011 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-19 Infinity Tracking

Milton Keynes, United Kingdom

Infinity Tracking is a call intelligence platform. Providing transformational business tools to gain intelligence from every conversation with prospects and customers. Infinity Tracking was established in 2010 and is based in Milton Keynes, England.

Buy -