Kirk Kapital enters Alliance+ shareholding

The new owners intend to at least double the company's revenues by 2017 through further acquisitions, the development of the firm's facility management services and expansion into neighbouring markets.

Previous funding
The business has grown acquisitively under Polaris's ownership. Earlier this year, Alliance+ bolted on Swedish firm Facila, marking its seventh acquisition. In 2012, the company bolted on Sweden's largest privately owned cleaning services firm Miljöteamet.

Alliance+ was formed in 2009, when Polaris acquired two cleaning companies in Denmark: Kølving & Thaning and Alliance Clean & Care. The transaction, which included a senior debt package provided by Danish bank FIH and vendor notes, was completed through Polaris's third buyout fund, which closed above target on €365m in 2010.

Company
Founded in 2010 through the merger of Polaris portfolio companies, Alliance+ is a facility services provider that also offers office support and property services. The business has had an average annual growth rate of 27% since 2009, following a development plan that includes organic and acquisitive growth.

The business reported revenues of DKK 931m in 2013, almost three times its 2009 figures, and EBITDA of DKK 69m. The company hopes to achieve a DKK 1.3bn turnover as early as this year.

People
Henrik Bonnerup is partner and CFO of Polaris. Bjarne Ammitzboll is CEO of Kirk.

Advisers
Vendor (Polaris) – ABG Sundial Coller (Corporate finance).

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• Topics
• Nordics
• Support services
• Exits
• Denmark
• Polaris Private Equity