Harris Williams & Co. Advises eCommerce Industries, Inc. in a Minority Private Placement
Harris Williams & Co. announces that eCommerce Industries, Inc. (ECi), a portfolio company of Insight Venture Partners (Insight), Accel Partners (Accel) and New Enterprise Associates (NEA) has received a minority private placement from Goldman, Sachs & Co. (Goldman). Harris Williams & Co. acted as the exclusive financial advisor to ECi. The transaction was completed on April 30, 2010 and was led by Jeff Bistrong, Garin Arevian, Sam Hendler and Eric Kim from the firm's Technology, Telecom & Digital Media (TTDM) Group in Boston.
"ECi is exactly the type of company that is successful in raising capital in today's market: well run, with a unique business model, and performing well right through the downturn. It was a delight working with Ron Books and the rest of the management team," said Jeff Bistrong, managing director and co-head of Harris Williams & Co.'s TTDM Group. "Harris Williams & Co. has been very active in both growth equity investments and in minority recapitalizations. This transaction is a good example of how a "Blue Chip" private equity group like Insight will seek out other high calibre investors to support the growth of their strong portfolio companies."
ECi is a premier developer of Enterprise Resource Planning (ERP) software and integrated supply chain solutions, with an emphasis on e-commerce capabilities and supplier connectivity. Through the development and application of leading edge technologies, the company provides large-scale innovation for the small to medium-sized business. ECi also provides specialized technology solutions for diverse industries, including contract office furniture, business machines, computer products, and educational and art supplies. ECi, established in 1999, is based in Fort Worth, TX.
Founded in New York in 1995, Insight is a leading growth-oriented, entrepreneur-focused private equity and venture capital firm focused on expansion and late stage investments in the global software, Internet and data services industries. Insights team is composed of experienced investors and operating executives with more than 150 years of collective experience in its focal industries. With over $3 billion raised since inception and a large network of technology experts, Insight provides strong support to its portfolio companies. In 2009, Insight was named among the Top Ten VCs Globally by Red Herring Magazine.
Accel is a venture capital firm that has been dedicated for over 25 years to supporting entrepreneurs who possess the unique insight to define new categories and build world-class companies.
NEA is a leading venture capital and growth equity firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With approximately $11 billion in committed capital, NEA invests in information technology, healthcare and energy technology companies at all stages in a company's lifecycle, from seed stage through IPO. Since the firm's founding in 1978, NEA's experienced management team has invested in over 650 companies, of which more than 165 have gone public and more than 265 have been acquired.
Goldman is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.