Private equity firm ECI Partners has acquired business messaging solutions specialist Commify in a deal valued at €300m.
Commify, which has more than 45,000 clients, helps businesses communicate with their customers and staff via SMS, WhatsApp, email, and voice messages, providing services such as appointment confirmations and emergency alerts.
Its brands include Esendex, Spryng, Skebby, Text Anywhere, and Text Marketer. Commify is well established in Europe, with growing operations in the US and Australia.
The acquisition will allow Commify to accelerate its investment in new products and services, including its growing range of messaging channels such as WhatsApp.
The funding will also support the company’s plans to more than double in size and make acquisitions in new and existing territories across Europe, the US, and Australia. Commify has completed 16 acquisitions in the last decade, and the support will be used for platform and product development.
Commify’s CEO, Richard Hanscott, expressed excitement about the acquisition, stating that the company is perfectly positioned to continue delivering high-quality, sustainable growth.
He added that ECI’s ownership will enable Commify to expand through further acquisitions in existing and new countries, as well as accelerate its investment in new products and services. Commify’s management team and staff are also looking forward to further strong growth supported by ECI’s significant investment.
Paul McCreadie, a partner at ECI, said that the acquisition of Commify provides a clear and compelling growth opportunity across Europe, the US, and Australia, as messaging becomes the number one customer engagement channel.
He added that ECI is delighted to partner with Richard and the Commify team to support them on further organic and acquisitive growth for the next stage of their journey.
Nick Jordan, a partner at Hg, said that the investment from ECI is a big milestone for the management and staff at Commify.
Hg had backed Commify since 2016 and supported the business as it expanded into multiple new European geographies and the US, more than doubling the size of the business in doing so. He wished the team well for the future, in partnership with ECI.
