Private equity firm ECI Partners (ECI) has invested an undisclosed amount in Fourth Hospitality, the provider of back-office technology to the hospitality sector.
The funding will be used to continue Fourth’s growth internationally, finance new product development and fund new bolt-on acquisitions.
Fourth operates in 20 countries, including the US, Russia, Germany and South Africa, and clients include Pizza Express, Fuller’s, and Hilton hotels. Revenues in the year to August 2010 increased by 17%.
The company was founded in 1999 by restaurant entrepreneurs Derek and Edwina Lilley, who will remain as investors.
David Ewing, partner at ECI, said: “ECI is a growth investor and we look forward to helping the company to continue to grow across the globe.”
