- Quinn Supports ECI Partner's latest investment in Fourth Hospitality
Quinn supports ECI Partner's latest investment in Fourth Hospitality
The Quinn Partnership, the UK’s leading provider of Management Due Diligence to the private equity market has supported ECI Partner’s recent investment in Fourth Hospitality, the leading provider of SaaS back office systems to the hospitality sector. As a market leader, the Covent Garden based company delivers material benefits to over 20,000 users across 20 countries and count Pizza Express, Jamie’s Italian, the Gordon Ramsey Group, ASK and Carluccio’s as customers.
ECI had been tracking Fourth as a potential investment due to its excellent management team led by Ben Hood and market leading position in a growing market. When founders, Derek and Edwina Lilley appointed KPMG to explore options ECI pre-empted the process, offered a highly deliverable deal that met the needs of all parties and delivered this in an accelerated timetable.
With strong customer retention, reoccurring sales and 12% market share, ECI have backed the current management team led by Chief Executive Ben Hood; Fourth will also see the introduction of Neville Davis as Chairman and plan to use funding to increase market penetration in addition to financing further product development and new bolt-on acquisitions.
ECI’s Investment was led by David Ewing who commented: “We are delighted to be backing Ben and his team at Fourth. ECI is a growth investor and we look forward to helping the company to continue to grow across the globe.”
Director of The Quinn Partnership, Paul Quinn commented on the deal, saying, “ECI have backed a dynamic and focused team, and together with Neville Davis as Chairman they will drive the business forward and continue its rapid growth within the market.”