£92m investment fund announced for SME FM businesses
08 March 2017
Launch of the £92m Aliter Capital I fund was announced yesterday, intended for investment in small and mid-sized support services businesses across the UK.
This coincided with confirmation of the fund's first equity investment in the Edwin James Holding (EJH) engineering group.
It was established in 2007 and employs 360 people, with revenues of £37.5m
The fund is claimed to be the first of its kind, targeting the £300bn support services sector that includes FM as a major contributor to this.
Aliter has been founded by Billy Allan, Greig Brown, Andy Galloway and Andrew Busby forming a group of "seasoned support services entrepreneurs", according to the announcement.
The group is credited with building businesses including EJ Stiell, Europa and ASCO Group over the last 20 years.
Businesses receiving investment capital will be assisted in creating organic and acquisitive growth to take advantage of sector consolidation.
Based in London and Glasgow, the group will consider investments throughout all areas of the UK.
Aliter co-founder and managing partner Billy Allan said the group believes "there is a huge opportunity to find and grow these businesses to create national operators and market leaders".
He further stated that the group can offer "a powerful combination of equity investment and hands on experienced operational support" to drive expansion.
"EJH is a great example of the sort of business that we are looking to back, a privately held technical support service business that has an effective management team in place but that is looking for strategic leadership to drive transformational growth," said Mr Allan.