Firm targeting support services acquisitions raises £134m war chest

Private equity investor Aliter Capital has raised £134 million, which it will use to target acquisitions of companies in the UK support services sector. Aliter Capital II, the firm’s second fund, is backed by a consortium of European and US institutions, along with a significant commitment from Aliter’s founding partners.

Aliter aims to create professional, medium-sized operators in the support services sector, through a combination of organic and acquisitive growth. The company targets smaller businesses, which it then integrates and grows.

The company’s strategy is to make a limited number of selective portfolio investments and then deliver dedicated support, based around organisational development, strategy, operational capability and overall business quality.

The UK services sector is comprised of businesses primarily offering labour services, including industrial maintenance, dining and catering, commercial cleaning and equipment repair.

Aliter’s maiden fund, the £92 million Aliter Capital I, was launched in February 2017 and has since closed 21 transactions. So far, Aliter has already invested in two platform businesses for its second fund, Concept Resources and Halcyon, with progress reportedly underway for further investments.

Aliter Managing Partner Billy Allan commented: "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."


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