We are delighted to celebrate a strong 2021, with ECI completing 7 exits with a combined value of £2.5bn. Together, these exits averaged a return of 3.5x, and include the sale of CPOMS, Content+Cloud and the IPO of tech unicorn Auction Technology Group (ATG). ATG was the best performing IPO in London during 2021(above £50m market cap) and is now a FTSE 250 constituent.
We also continued our strong record of supporting companies to unlock growth opportunities through M&A, with the portfolio completing 14 acquisitions in total last year.
ECI also opened its New York office to support the international growth of its investment portfolio. As part of this, ECI appointed Brett Pentz as Vice President to lead the US region and support portfolio companies with sourcing and executing North American M&A opportunities, as well as helping to execute organic entry and growth strategies. Two of ECI’s seven exits were to US trade buyers in 2021.
Other key milestones in 2021 included:
• The close of ECI 9 which comprised of 15 investments and generated a 3x return and 36% IRR.
• Our reinvestment in high-growth virtual insurer, Avantia, a new investment for ECI 11.
