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ECI exits MM Group

ECI Partners, a UK mid-market buyout firm, has sold its 92.5% stake in MM Group, the UK’s fourth largest provider of outsourced call centre services.

The share in the Bristol-based company has been acquired by French telemarketing firm SR.Teleperformance for an undisclosed fee. The six directors of MM will continue to hold their 7.5% interest.

This is the seventh exit over the last 18 months from ECI 6, producing an aggregate IRR of 30% and a multiple of over 3x.

ECI originally funded an MBO by managing director Jeff Smith of MM Group from Mail Marketing in October 2000. A £12m refinancing of the group was completed in September 2003.

Following the investment, MM has grown significantly and is expected to generate revenue of some $62m (£42m) in the current financial year.

SR Teleperformance is a provider of outsourced CRM and contact centre services. It operates 150 call centres in 34 countries and last year made sales of $1.05bn (£570m).