Inflexion’s Alcumus in £47m Santia deal

The deal comes just eight weeks after Inflexion's acquisition of Alcumus. The GP acquired the risk management business from Sovereign Capital for £92m in October.

Infexion provided additional funding for the deal, which was supported with a proprietary debt package.

Turnaround specialist Better Capital had acquired Santia in 2011 from the administrators of Connaught, investing £15.5m via its 2009 fund. The firm stated that the exit to Alcumus was expected to generate proceeds "very close" to the £40m value associated with the investment in its most recent accounts.

This represents a 2.8x money multiple and a 26% IRR.

Company
Cardiff-based Santia provides risk assessments, health and safety training, inspections and gap analyses. It also provides National Examination Board in Occupational Safety and Health courses and Institution of Occupational Safety and Health qualifications, as well as Institute of Environmental Management & Assessment training.

Following the transaction, the newly combined business will serve 30,000 clients in the UK and overseas. It employs 700 people.

People
Simon Turner is managing partner of Inflexion. Martin Smith is CEO of Alcumus.

Advisers
Equity – Catalyst Corporate Finance (Corporate finance).  

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• Topics
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• Expansion
• Inflexion Private Equity
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