HIG Capital LLC on Tuesday, Aug. 4, announced the sale of IT managed services provider Eze Castle Integration Inc. to Wind Point Partners LLC.

Miami-based HIG didn’t disclose the financial terms of the transaction but said that its ownership enabled ECI to expand its offerings, deepen its position as the partner of choice for blue-chip financial services firms and extend its capabilities into adjacent regulated markets.

The Deal reported in October that HIG Capital had hired Robert W. Baird & Co. to run an auction process for ECI. The Deal subsequently reported in March that the company experienced customer churn amid the process, which reduced valuations for the company and prompted HIG to temporarily take ECI off the market. A fresh round of initial bids was due in April.

New York-based ECI generates about $35 million to $38 million in Ebitda from providing IT services, cybersecurity, data offers and other services to PE firms, hedge funds and asset managers.

ECI has more than 900 employees and more than a thousand active clients, according to its website. The company has locations throughout the U.S., Europe and Asia.

HIG backed ECI in June 2018 in a sale run by KPMG Corporate Finance LLC. Subsequently, the company acquired IT services and managed infrastructure company Alphaserve Technologies and digital transformation company NorthOut Inc. in 2020.

Wind Point said in its own statement that it plans to scale ECI through both organic initiatives and strategic acquisitions, with a focus on expanding services and capabilities in key markets.

Wind Point Executive Advisor Partner program members Tony Anderson, a former managing partner at Ernst & Young LLP, and Joe Mertens, former CEO of Sirius Computer Solutions Inc., will join ECI upon closing.

They will be joined by Kelly Chambliss, former head of the Americas consulting practice at IBM Corp. (IBM) and former COO of IBM Global Consulting, as well as former NTT Data Group Corp. CEO Bob Pryor.

Chicago-based Wind Point focuses on the business services, consumer products and industrial products sectors. The firm typically invests in North American companies with Ebitda of $10 million to $75 million.

In March 2024, it closed its most recent flagship fund, Wind Point Partners X, at $2.3 billion.

HIG is a middle market private equity firm specializing in debt and equity investments. Its equity funds target management buyouts, recapitalizations and corporate carveouts of manufacturing and services businesses. The firm has invested in more than 400 companies worldwide and manages a portfolio of more than 100 businesses.

In 2023, it closed its latest middle market leveraged buyout fund with $5.5 billion in commitments, and in October 2024, it raised $2 billion for HIG Capital Partners VII, focused on lower middle market companies.

HIG and ECI looked to Guggenheim Partners LLC and Alex Sevilla, Kiran Paruchuru, Steve Beckert, Leslie Cheek IV and Awais Ahmed of Baird for financial advice. King & Spalding LLP provided counsel. Managing director John Von Bargen and ECI CEO Jeff Schmidt worked on the deal internally.

Vice president Alec Petrie and managing director Joe Lawler were on the deal at Wind Point, which tapped KPMG LLP and a Houlihan Lokey Inc. team led by Anthony Basmajian, Tim Frye and Michael Bertolino for financial advice. Winston Taylor LLP provided counsel.