Business messaging firm sold in £257m deal
ECI Partners, the private equity firm, has bought Commify, the Nottingham-headquartered business messaging company, in a £257m (€300m) deal.
The deal provides an exit for Hg, which has backed Commify since 2016.
Commify’s software enables 45,000 customers to communicate with their customers and staff, sending over 5 billion messages per year, covering a range of uses from appointment confirmations to emergency alerts, via a range of channels including SMS, WhatsApp, RCS, email and voice.
The firm operates at global scale, via both its Esendex and local self-serve brands. The firm has completed 16 acquisitions in the last decade, and the investment from ECI will support further acquisitions across both existing and new countries, as well as to accelerate future platform and product development.
Richard Hanscott, CEO, Commify, said: “With Hg’s backing in recent years we have built a highly differentiated market-leading business, with material investment in both M&A and our business messaging platform. ECI’s ownership will allow us to accelerate our investment in new products and services, including our growing range of messaging channels such as WhatsApp. Alongside this we are excited to continue to drive expansion through further acquisitions in both existing and new geographies. Commify is perfectly positioned to continue to deliver high quality, sustainable growth. This is a very exciting time for Commify, our customers and our employees as we look forward to further strong growth supported by ECI’s significant investment.”
Paul McCreadie, partner at ECI, said: “Commify has built a differentiated position in an exciting global market, and with messaging becoming the number one customer engagement channel, there is a clear and compelling growth opportunity across Europe, the US and Australia. We’re delighted to be partnering with Richard and the Commify team to support them on further organic and acquisitive growth for the next stage of their journey.”
Nick Jordan, partner at Hg, added: “The investment from ECI is a big milestone for the management and staff at Commify. We have been incredibly proud to support the business as it expanded into multiple new European geographies and the US, more than doubling the size of business in doing so. We wish the team well for the future, in partnership with ECI.”