Private equity firm ECI Partners has purchased a majority stake in Citation to allow the employment law and health and safety advisory firm to target future growth.
ECI Partners has followed up on recent investments in the business services sector by backing Citation in an undisclosed deal.
Cheshire-based Citation provides professional advice and compliance packages in the areas of employment law and health and safety regulations.
By supporting the firm, ECI Partners has now added it to its list of business services portfolio companies including Rhubarb, Clarke Energy, Reed & Mackay and XLN Business Services.
According to Citation, since 2006 it has grown sales by some 50 per cent to £15.4 million.
Julie Moran, Citation financial director, comments, ‘ECI Partners have a strong track record of backing growth companies and we welcome their investment.
‘Citation has grown its business significantly in recent years, thanks to the hard work of our employees and the support of our clients.’
As part of the deal, Andrew Vaughan, current chairman of ECI portfolio company Premier Care, is set to join the Citation board as chairman. This role follows on from previous roles at companies including Enviros, WCI and ClarityBlue.
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Also joining the board is Richard Chapman, head of business services at ECI Partners. He adds, ‘Citation has a proven management team in place and we look forward to working with them to support the company’s future growth strategy.
‘We recognise there is a growing requirement for SMEs to demonstrate their compliance in personnel & employment law and health & safety. Our investment will help to accelerate the growth of the core personnel & employment law and health & safety divisions.’