Technology

Eco City Vehicles plc

Year

2016


Transaction type Public M&A

Sector Technology

finnCap have advised Eco City Vehicles Plc on their reverse takeover and £45m placing.

Clive Carver, Non-Executive Director of ECV, said:

“It has been our stated strategy to seek an investment in the technology sector where we believe there are opportunities for growth. TCS is a business that meets these criteria and represents a strong and stable platform from which to build a UK tax automation and compliance software business of scale. We look forward to the future with confidence.”

Gavin Lyons, proposed Executive Chairman of ECV, said:

“TCS has a market leading corporation tax software platform established over the past 25 years which is used by a large number of the UK’s leading companies and accountancy practices. We will invest in the excellent product portfolio, making it even more relevant to our valued customer base. As we expand our service, we will also grow the TCS team. We aim to accelerate the organic growth of the business whilst seeking opportunities to acquire companies with complementary products and services.”