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Allan heading new fund to back support services

Billy AllanBilly Allan, who helped build and sell the facilities management firm E J Stiell, is leading a new fund providing equity capital for investment in SMEs across the UK.

Mr Allan is a co-founder of Aliter Capital, which is based in Glasgow and London. It is believed to be the first focused on businesses in the £300 billion support services sector.

Mr Allan, who also chairs Edinburgh-based oil and gas firm Bowleven, said: “The support services sector is dynamic, with many small and mid-sized businesses performing well in their regions and sub sectors.

“We believe there is a huge opportunity to find and grow these businesses to create national operators and market leaders.”

Mr Allan joined EJ Stiell more than 40 years ago, becoming chief executive in the late 1990s. The company grew with backing from 3i and was sold to Alfred McAlpine in 2002.

He later led the oil services company Asco Group which he sold to private equity firm Doughty Hanson in 2012.

Joining him at Aliter is Greig Brown, former CEO of Europa and Emcor; Andy Galloway, former commercial director at Stiell and Europa; and private equity executive Andrew Busby, formerly of HIG Capital and Brookfield.

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