ECI Partners Invests in compliance company Citation plc

Jan. 7, 2013 - PRLog -- London - EMBARGO 7th January 2013:  ECI Partners LLP, the UK growth focused mid-market private equity firm, is taking a majority stake in Citation plc ("Citation"), in a deal that values the company at £50million, in order to support Citation in realising its plans for growth.  

With over 200 employees, Citation provides professional advice and compliance packages to 7,500 business clients across the UK, via its team of regionally located, employed consultants. The company’s market- leading services provide guaranteed protection in the high risk areas of employment law and health & safety regulations (http://citation.co.uk/).  

Citation clients are 12x less likely to face an employment tribunal, 47 times less likely to receive a Health & Safety notice and 8 times less likely to have a reportable accident at work compared to other SMEs.

Citation offers an excellent service to its clients with long term future contracts by professional service sector standards. Since 2006, sales have risen more than 50 percent to £15.4 million for the year ending 31 December 2011. The company was  winner of the Queen’s Award for Enterprise (Innovation) 2006, and has also been recognised as “market leader” by Orange UK in the National Business Awards.

Andrew Vaughan (current Chairman of Premier Care another ECI investment), will join the board as Chairman to work with ECI Partners to expand Citation. Former appointments for Mr Vaughan include Enviros Group, WCI Group and ClarityBlue. Prior to these roles he was Chief Executive of Workplace Technologies which he led through MBO, flotation, and finally sale.

Citation Financial Director Julie Moran, said:

"This is an exciting time for Citation, our clients and our employees. 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. We want to build on that success and today’s announcement will support a major growth strategy for the future."

Richard Chapman, Head of Business Services at ECI Partners, added:

"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."