Business messaging firm to continue acquisitive growth with new PE backing
Tue, 05 Sep 2023 | BUSINESS NEWS
Nottingham-headquartered business messaging firm Commify has secured fresh private equity backing from ECI Partners in a €300 million (£256.6 million) deal that will enable the company to continue its acquisitive and organic growth strategy.
Commify has completed 16 complementary acquisitions over the past decade, helping it to expand its operations across Europe, the US and Australia, with the firm now providing integrated services to more than 45,000 customers.
The company’s services enable businesses to communicate with customers and staff and the firm says it sends in excess of five billion messages per year via channels including RCS, email, WhatsApp, SMS and voice, with communications ranging from appointment confirmations to emergency alerts.
The backing from ECI Partners provides a full realisation for European software investor Hg, which has backed Commify since 2016, and will support further acquisitions to help the company expand geographically in both existing and new territories, as well as to accelerate future product and platform development.
Commify CEO Richard Hanscott said that Hg’s backing had enabled the company to build a "highly differentiated market-leading business, with material investment in both M&A and our business messaging platform.”
He continued: "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.”
Hanscott added that the company was " perfectly positioned to continue to deliver high-quality, sustainable growth.”
ECI partner Paul McCreadie said that Commify had “built a differentiated position in an exciting global market” and added that “with messaging becoming the number one customer engagement channel, there is a clear and compelling growth opportunity across Europe, the US and Australia.”
Read more about securing private equity backing for M&A-led growth
Find out more about M&A trends in the professional services sector
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