• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deal search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
      • Deals search
      • Exits search
      • Funds search
      • Sponsors search
      • Advisers search
      • LPs search
      • League tables
      • Reports
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
UNQUOTE
  • Buyout

Aliter raises GBP 134m for new UK support services fund

  • Wahida Ahmed
  • 08 December 2022
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

Private equity firm Aliter Capital has closed its new fund focused on the UK support services sector on GBP 134m after less than a year on the road.

Aliter Capital II, which was launched in January 2022, is backed by the US and European institutions, including pension funds, funds of funds, university endowments and charitable foundations, according to a press release.

Aliter partner Andrew Busby told Unquote that each LP provided around GBP 10m-GBP 30m in commitments, while the GP's founding partners have also made significant commitments to the fund.

Busby said the fundraising environment has not been easy for new and emerging managers. However, the sponsor's differentiated strategy of supporting buy-and-build plays helped in raising the new fund, he added.

Several factors are contributing to the tough fundraising environment, including the denominator effect and fewer exits leading to less cash available for LPs to re-up, making them more selective, Busby said.

The new fund will deploy tickets of up to GBP 20m and will pursue buy-and-build strategies to create medium-sized companies that can be sold to mid-market sponsors or trade buyers, Busby said.

Aliter plans to deploy the fund in four years, making around seven to 10 deals per year, including bolt-on.

Investments
Fund II will follow the same strategy of its predecessor, targeting medium-sized businesses in the UK support services sector. It will mostly targets owner-managed support services businesses with a B2B model, particularly those that have frameworks and agreements that generate recurring revenues. Sub-sectors the sponsor likes include mechanical engineering, infrastructure, e-learning, and technology platforms, among others, he said. It typically targets businesses with GBP 10m-GBP 50m enterprise value.

Fund II is expected to have a portfolio of five to six platform companies and make up to 35 bolt-on deals, Busby said. It will take advantage of consolidation opportunities by acquiring and integrating smaller businesses into its portfolio companies, as well as pursuing organic growth.

The vehicle has already invested in two platform businesses: Halcyon, a London-headquartered clinical and organisational data collection solutions provider; and Dudley-headquartered recruitment consultancy Concept Resources.

The sponsor is in exclusivity for a bolt-on for Halcyon, which it expects to sign in Q1 2023, while it also has a pipeline of opportunities for Concept Resources which will materialise in H2 2023, Busby said.

Aliter's debut fund, Aliter Capital I, held a final close on GBP 92m in February 2017 and has made 21 transactions since then.

The sponsor sold UK-based North, an integrated technology solutions provider, to Livingbridge in July 2021 in its first exit from Fund I, which has another three companies in its portfolio, Busby said.

People
Aliter Capital – Billy Allan, Greig Brown, Andy Galloway (co-founders); Andrew Busby (partner).

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • Buyout
  • UK / Ireland
  • Fundraising
  • Support services
  • Technology
  • Aliter Capital

More on Buyout

CVC raises Europe's largest ever buyout fund, securing EUR 26bn for ninth vehicle 
CVC raises Europe's largest ever buyout fund, securing EUR 26bn for ninth vehicle 

Fund was launched in January 2023 and surpassed its EUR 25bn target, the GP said in a statement

  • Buyout
  • 20 July 2023
Inspirit holds GBP 75m final close for second fund, anticipates strong carve-outs dealflow
Inspirit holds GBP 75m final close for second fund, anticipates strong carve-outs dealflow

Fund was oversubscribed and closed following a three-month fundraising process

  • Buyout
  • 07 July 2023
Cathay holds final close on USD 270m for PE growth fund
Cathay holds final close on USD 270m for PE growth fund

France-based GP’s latest private equity fund expands its geographical focus to North America

  • Buyout
  • 30 June 2023
TA Associates waltzes to USD 16.5bn fundraise
TA Associates waltzes to USD 16.5bn fundraise

Seven-month raise for the US-based sponsor’s fifteenth vehicle bucks fundraising woes faced elsewhere

  • Buyout
  • 16 June 2023

Latest News

Partners Group to release IMs for Civica sale in mid-September
  • Exits
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • 04 September 2023
BHM Group builds on PE strategy, eyes European medtech and renewable energy acquisitions
  • Investments
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Czech Republic-headquartered family office is targeting DACH and CEE region deals

  • 01 September 2023
Redalpine expands leadership team amid CHF 1bn-plus fundraise
  • Venture
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Ex-Rocket Internet leader Bettina Curtze joins Swiss VC firm as partner and CFO

  • 31 August 2023
Change Ventures aims to hold final close for EUR 20m third fund by mid-2024
  • Funds
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Estonia-registered VC could bolster LP base with fresh capital from funds-of-funds or pension funds

  • 31 August 2023
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013