Leonard Green & Partners’ Acquisition of Majority Stake in ECI Software Solutions

Skadden, Arps, Slate, Meagher & Flom LLP advised ECI Software Solutions, while Latham & Watkins LLP acted as legal advisor to LGP on the deal.

Leonard Green & Partners (“LGP”) will acquire a majority stake in ECI Software Solutions from funds advised by Apax Partners and The Carlyle Group. Upon completion of the transaction, funds advised by Apax Partners, which acquired ECI in 2017, will retain a minority stake in ECI. Financial terms of the transaction were not disclosed.

ECI Software Solutions (“ECI”) is a leader in cloud-based business management software solutions for small and medium sized companies. Privately held, ECI is headquartered in Fort Worth, Texas, USA, with offices throughout the U.S., Canada, Mexico, England, the Netherlands, and Australia.

Leonard Green & Partners, L.P. is a leading private equity investment firm founded in 1989 and based in Los Angeles. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has invested in over 100 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. LGP primarily focuses on companies providing services, including consumer, business, and healthcare services, as well as retail, distribution, and industrials.

The Skadden team advising ECI included M&A partner Ann Beth Stebbins (Picture), Tax partner Victor Hollender, Executive Compensation and Benefits partner Erica Schohn; and Antitrust/Competition partner Maria Raptis. All attorneys are located in New York

Involved fees earner: Victor Hollender – Skadden Arps Slate Meager & Flom; Maria Raptis – Skadden Arps Slate Meager & Flom; Erica Schohn – Skadden Arps Slate Meager & Flom; Ann Beth Stebbins – Skadden Arps Slate Meager & Flom;

Law Firms: Skadden Arps Slate Meager & Flom;

Clients: ECi Software Solutions;

Author: Ambrogio Visconti