Private equity firm HGGC has acquired etouches. HGGC’s investment will help etouches significantly expand its business and further invest in its market-leading cloud platform to win a greater share of the US$6 billion Event Management Software (EMS) and venue sourcing market. etouches has offices in the US, UK, Belgium, Australia, Singapore and United Arab Emirates.
etouches is the final platform investment made from HGGC’s US$1.33 billion second fund. It also represents the seventh marketing services technology platform the firm has invested in, following AutoAlert, Dealer FX, Integrity, MyWebGrocer, Selligent, and SSI.
“We are very excited to partner with HGGC as we continue to enhance our offering and capitalise on the large whitespace in the market,” said Oni Chukwu, CEO of etouches. “The HGGC team’s experience in marketing technology gives them a very sophisticated understanding of the opportunity in front of us as enterprises transition from single-point solutions to a suite of solutions that manage the entire event lifecycle.”
“Under Chukwu’s leadership, etouches has become a premier provider of EMS and venue sourcing solutions, more than doubling revenues since 2014,” said Steve Young, co-founder and managing director of HGGC.
HGGC is confident that the additional resources it can bring to bear will accelerate “etouches’ already impressive growth and outpace the competition. Because we see etouches as a growth investment just starting to reach its potential, we’ve made this acquisition without leverage and are putting cash on the balance sheet to ensure nothing slows the company’s trajectory,” added Young.