Aliter-backed Ipsum bolts on Stormport Professional Services

The deal comes 26 months after Aliter launched its buy-and-build platform Ipsum with the buyout of Complete Asset Life Management Solutions. It is the fourth installment in the utilities and infrastructure platform, following the acquisitions of Specialist Power Engineering Contracts and Euro Environmental Utilities Group.

The bolt-on of Stormport is intended to increase Ipsum's range of electricity-related services and expand its geographic reach across the UK market.

The GP is currently investing from its £92m maiden fund Aliter Capital I, which closed in February 2017. The vehicle has made three platform investments to date: Ipsum Group, IT network infrastructure company Boston Networks and engineering company Edwin James Holding.

Company
Founded in 2009 and headquartered in Ely, Cambridgeshire, Stormport is a provider of electricity network asset installation, maintenance and repair services. It also provides network connections to the distribution network operator and independent connections provider markets.

People
Aliter Capital – Greig Brown (partner).
Ipsum Group – Greg Fernie (CEO).
Stormport Professional Services – Steve Wright (managing director, co-founder); Pete Hulyer (senior director, co-founder).

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