PE Deals

ECI Partners sells Tusker to Lloyds Banking Group in £300m deal

Tusker is a vehicle management and leasing firm that offers EVs and ultra-low emission vehicles. 

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  • ECI acquired a majority stake in Tusker in 2015
  • ECI is a private equity investor, focused on offering collaborative support to management teams
  • The firm is based in London, and invests in growth business valued up to £300m

ECI Partners has completed the sale of Tusker to Lloyds Banking Group for a value of around £300 million ($363.3 million;€340.9 million), generating a return of 6.2x.

Tusker is a UK-based vehicle management and leasing company that provides electric vehicles (EV) and ultra-low emission vehicles through salary sacrifice schemes. The firm is based in Watford, England.

“Tusker is a fantastic and innovative business supporting the UK’s transition to Net Zero, and we’re delighted with the successful sale of the business to Lloyds Banking Group,” said Paul McCreadie, partner at ECI Partners.

ECI acquired a majority stake in Tusker in 2015.

ECI is a private equity investor, focused on offering collaborative support to management teams. The firm is based in London, and invests in growth business valued up to £300 million.