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Forward support ECI on two new investments

4th September, 2018


Forward Corporate Finance is pleased to have supported ECI Partners on two new investments. Firstly on the acquisition of Business Save (BSI) by portfolio company Make it Cheaper (MIC), and secondly on their new platform acquisition, MThree.

 

Make it Cheaper is the UK’s leading SME switching provider for essential bills, including energy, telecoms, and insurance, and became an ECI portfolio company in 2017. In July this year MIC acquired St. Albans based Business Save, founded by Simon Paul. Operating as an energy broker in the SME market, BSI has a strong reputation with suppliers, and an excellent customer satisfaction rate. This move provides MIC with new channels to market for its time and money saving services for UK SMEs.

 

Tom Crockford, Make it Cheaper CFO commented: “We engaged Forward to give us extra resource to focus on the transaction. Sarah did an excellent job of gathering the historical information and working with Simon and I on the forecasts and business plan. In addition, she assisted us in developing the financial information needed for due diligence, and the investment and credit committees for ECI and the bank.”

 

In a second transaction, ECI acquired a new investment platform, MThree. Global technology consultancy, MThree, works with financial services organisations and tech companies to provide expert technology capability. This is underpinned by its innovative ‘Alumni’ brand, which provides tailored sourcing and development of high-performing STEM graduates for global clients across banking and other business sectors.

 

Founded in 2010 by Alex Headley, MThree today employs more than 500 people with offices in six countries and across three continents. The investment from ECI will enable the company to accelerate its organic growth strategy and international expansion.

 

Richard Chapman, ECI Partner, who led both transactions commented: “Sarah has worked on many of our deals, providing critical financial analysis and modelling support. She knows what we need and works quickly and efficiently with our investment teams. She is a trusted partner to ECI.”

 

Sarah Moores, Director at Forward Corporate Finance commented: “It was a pleasure to work with ECI again on these two transactions, and to support Make it Cheaper on their first acquisition. I wish both businesses every success for the future.”