22 02 2016

HgCapital acquires Citation from ECI Partners for £185 million

The private equity firm HgCapital has acquired Wilmslow-based Citation from ECI Partners, which acquired a majority stake in the firm three years ago.


Wilmslow based Citation provides HR, employment law, and health & safety solutions to 16,000 SMEs across the UK. Since ECI's investment in December 2012 it has helped Citation, which provides HR, employment law, and health & safety solutions to 16,000 SMEs across the UK,  grow its customer base from around 5,000 to 16,000 and its revenue from £20 million to over £40 million forecast in 2016. HgCapital were advised by Weil Gotshal, while Addleshaw Goddard has advised ECI Partners on the sale with a team led by private equity partner Mike Hinchliffe (picture), assisted by corporate partner Richard Lee, tax partner Elaine Gwilt and corporate associates Marc Field and Andy Grant. Involved fees earner: Mike Hinchliffe - Addleshaw Goddard; Richard Lee - Addleshaw Goddard; Marc Field - Addleshaw Goddard; Andy Grant - Addleshaw Goddard; Elaine Gwilt - Addleshaw Goddard;

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