Private equity firm ECI has sold technology recruitment and education services provider mthree for $129 million (£98 million) to publishing company John Wiley & Sons.
mthree finds, trains and places workers in technology roles with financial institutions, technology companies, and government agencies around the world. It also works with clients to retrain and retain existing employees so they can continue to meet the changing demands of the technology workplace.
Its revenue for 2019 is expected to be over $50 million (£38 million), with a projected annual growth rate of over 20%.
Richard Chapman, Head of Business Services at ECI Partners, said: “We are delighted that mthree has found a perfect strategic fit with Wiley, which is known for its leadership in Education. We believe this transaction will further accelerate mthree's North American growth which has been a key part of the company's transformation over the past two years.”
Alex Headley, CEO and Founder of mthree, added: "The last five years have seen tremendous growth for mthree. We have been on a journey from a start-up to a global corporation that includes partnerships with the world’s largest banks and disruptive tech businesses. Wiley will enable mthree’s strategic growth plans to be realized, helping more graduates navigate the changing world of work and our clients grow their businesses with the right talent.”