Baird sells Alpha FMC to Dunedin

Following the deal, Dunedin will support Alpha's expansion into new geographies. Dunedin was attracted to the company because of continued growth in outsourced consultancy services driven by increasing operational, regulatory and cost pressures.

Debt for the deal was supplied by Lloyds Bank Commercial Banking.

Previous funding
Baird purchased a minority stake in Alpha in October 2013 in a deal valuing the business at £28m, according to unquote" data. During the investment period, Alpha's headcount increased from 99 to 200.

Company
Established in 2003 and based in London, Alpha provides consultancy to asset and wealth managers, as well as their third-party administrators. The company employs 200 consultants operating from offices in London, Paris, New York, The Hague and Luxembourg.

For 2016, the company expects to generate profits of £8m.

People
Alpha Financial Markets Consulting – Euan Fraser (CEO).
Dunedin – Mark Ligertwood, Oliver Bevan (partners); Andrew Davidson (associate).
Baird Capital – Andrew Ferguson, Dennis Hall (partners).

Advisers
Equity – Grant Thornton (Financial due diligence); Roland Berger (Commercial due diligence); Dickson Minto (Legal); Intuitus (IT due diligence); KPMG (Corporate finance); High Wire (Management due diligence); Insight Insurance (Insurance due diligence).

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• Topics
• Buyouts
• Exits
• UK / Ireland
• Support services
• Baird Capital Partners Europe Ltd
• Dunedin
• Secondary buyout