Norwalk, Conn. – The California private equity firm HGGC has acquired etouches, a Connecticut-based developer of software for event management and venue sourcing, it was announced on May 9.
JEGI represented HGGC in the transaction. The deal expands HGGC’s presence in the event management software (EMS) arena, which JEGI pegged at around $6 billion worldwide. It was also the seventh acquisition HGGC has made in marketing services platforms.
Steve Young, Co-Founder and Managing Director of HGGC, said the acquisition was made “without leverage,” and with an injection of cash to etouches’ balance sheet so that the company would not face any new headwinds. “etouches has become a premier provider of EMS solutions, more than doubling revenues since 2014,” he said. “We’re confident that the additional resources we can bring to bear will accelerate etouches’ already impressive growth.”
The etouches cloud-based platform provides end-to-end event management capabilities, including venue and hotel sourcing, registration, logistics, marketing and real-time data analytics. Its customer roster of around 1,300 includes major international corporations. The company has offices in Norwalk, CT, Australia, Europe and the United Arab Emirates.