Aliter Capital targets support services with new fund
Aliter Capital, the private equity investment specialist focused on acquisitions in the UK support services sector, has raised £134 million for its second fund, Aliter Capital II.
From its offices in London and Glasgow, Aliter is currently pursuing a range of potential investments across the UK.
Aliter’s investment strategy is to create medium-sized operators in the support services sector, through the acquisition and integration of smaller businesses and through organic growth.
The Aliter Capital II Fund is backed by a consortium of US and European institutions, including pension funds, funds of funds, university endowments and charitable foundations. The founding partners have made a significant financial commitment.
Aliter’s maiden £92m fund, Aliter Capital I, has closed 21 transactions since its launch in February 2017. With a strong pipeline of opportunities, Aliter has made swift progress investing in two platform businesses for Fund II, Halcyon and Concept Resources. Progress is underway for further platforms.
Managing partner Billy Allan said: “We are looking to work alongside talented, ambitious management teams who aspire to become UK leaders in their field.
“Our experience with the first Aliter Capital Fund underlines we have a business model that works and delivers for both investors and the companies we invest in. The whole team here at Aliter Capital is relishing the opportunity to work with the best emerging leaders in the UK’s support services sector and help them grow businesses of scale.”
Aliter was founded in 2017 by a quartet of seasoned support services entrepreneurs and investors. Mr Allan, Greig Brown and Andy Galloway first worked together when Mr Allan led an MBO of EJ Stiell in 1995 and then its eventual sale to Alfred McAlpine plc in 2002.
They then teamed up with private equity specialist Andrew Busby to acquire, grow and sell Europa Support Services in 2008.