9 March 2017 | Herpreet Kaur Grewal
An innovative £92 million fund that will invest in small and mid-sized support services businesses including FM has been launched by a group of seasoned support services entrepreneurs.
The fund, called Aliter Capital I ('Aliter'), was set up in 2016 by Billy Allan, Greig Brown, Andy Galloway and Andrew Busby, who all have "particular experience of building businesses in facilities management, electrical & mechanical engineering, logistics, laboratory services, IT networks, fleet management, and environmental services".
Aliter's fund is a first of its kind and is focused on growing small and mid-sized UK firms in the support services sector, a market now valued at £300 billion.
But Aliter will look at investment opportunities across all fast-growing segments of the support services industry. It will use its deep industrial experience and established network to help its investee companies drive organic and acquisitive growth and take advantage of sector consolidation.
Aliter will be based in London and Glasgow, but will make investments across the UK.
Aliter has completed its first equity investment in engineering group, Edwin James Holdings ('EJH'), for an undisclosed sum.