Over the last three years, BID Equity has invested significantly in eSight’s modular product and modern cloud architecture and has also optimized its marketing and sales processes. In addition, the firm placed significant emphasis on the further professionalization of its core processes.
The investment has enabled eSight to win new enterprise clients and to successfully implement large projects. BID Equity are a Private Equity firm investing in software businesses across Europe.
The acquirer, MRI Software is a leading provider of software for real estate management globally. MRI will help eSight accelerate its international growth, open new customer segments and become part of a very powerful technology platform for the real estate sector.
eSight CEO, Janie Jefferies-Freer, said:“eSight has developed extremely well in recent years and is now a leading platform for sophisticated energy management. BID Equity played a key role in our development, and we are delighted to win MRI Software as a strategic investor to accelerate our growth even further."
Angus Wood, assistant director at PEM, added,“We are delighted to have acted for BID Equity in this transaction. BID Equity required a UK-based adviser and PEM were well-placed to provide the tax due diligence for the transaction and input on the negotiations. I wish eSight well under their new ownership.”
Lake Falconer, partner at PEM Corporate Finance, who advised Simon Durrant on the sale of eSight to BID Equity in 2018, offered his reflections on the news:“Having worked with Simon on the original sale, it’s nice to see PEM advising on the next transaction as eSight Energy Group goes from strength to strength.”