ALITER Capital LLP (Aliter), the private equity investment specialist in the UK support services sector, has completed fundraising for its second fund, Aliter Capital II, with £134 million committed by investors.
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 sophisticated, professional medium sized operators in the UK support services sector, through the acquisition and integration of smaller businesses and organic growth. The team at Aliter draws on its deep industrial experience and broad networks to drive growth, gain scale and a UK wide footprint. Aliter’s approach differs from traditional private equity models, by making only a limited number of selective portfolio investments to deliver dedicated support around strategy, organisational development, operational capability and overall business quality.
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. Aliter’s founding partners have also made a significant financial commitment to the fund.
The launch of the Aliter Capital II fund follows the successful investment of Aliter’s maiden £92 million fund, Aliter Capital I, which 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.
Aliter’s 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. Billy Allan, Greig Brown and Andy Galloway first worked together when Billy Allan led a 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.