HgCapital buys controlling stake in Citation from ECI for £185M
February 17, 2016
HgCapital has announced a majority investment in Citation, assuming controlling interest in the company from ECI Partners for a reported £185 million. ECI had invested £50 million in Citation during 2013 and will generate a 5.4x return multiple on the sale. The company provides employment law, HR, health & safety, ISO and training solutions to more than 15,000 clients.