Aliter-backed Edwin James buys PEME

Aliter drew equity from its £92m maiden fund, Aliter Capital I, to finance the transaction.

The combined group employs more than 1,000 people and has revenues of approximately £150m, according to a statement.

Edwin James said the acquisition will enhance the group's reputation and enable the company to further develop its process services offering.

Previous funding
Aliter acquired Edwin James in March 2017, at which point it employed 360 people and generated a turnover of £37.5m.

The GP supported the bolt-on of WT Parker Group in April 2017, boosting the number of employees to almost 1,000 and increasing group revenues to £110m.

Company
PEME was founded in 1982 and is headquartered in Peterborough. The company installs and maintains electrical and mechanical systems for European manufacturers. In 2016, it reported operating profit of £5.5m from revenues of £13m. It employs 200 people.

People
Edwin James Holdings – Billy Allan (managing partner).
Peterborough Electrical & Mechanical Engineering – Ashley Maile (managing director).

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• Topics
• Expansion
• UK / Ireland
• Industrials
• United Kingdom
• Aliter Capital
• Build-up