UK buyout firm ECI Partners has emerged as the frontrunner to buy Investis, the corporate communications company that is being sold by Gresham Private Equity as part of its wind-down.

ECI is said to be nearing an agreement to buy the London-based company, which provides investor relations and communications services for public companies including pharmaceutical giant GlaxoSmithKline and budget airline easyJet, according to two people familiar with the situation.