Tue, 30 Apr 2024 | BUSINESS NEWS
Adler & Allan, a provider of environmental risk reduction services, has secured new private equity backing to accelerate its organic and acquisitive growth plans. The deal sees private equity business Goldman Sachs Alternatives acquire a majority stake in the company from an affiliate of Sun European Partners.
Adler & Allan is based in Harrogate and was founded in 1926. The company is a specialist environmental risk reduction services firm that supports organisations to manage, improve, maintain and upgrade their critical infrastructure.
Under the ownership of Sun European Partners, the company has more than doubled in size through both M&A and organic growth and has formed a water services division that helps UK water utility companies to manage their wastewater and freshwater networks.
The new Goldman Sachs investment will help the company to accelerate its plans to expand its service offering and geographic presence through targeted acquisitions, as well as to drive organic growth through investment in innovation, technology and staff.
Adler & Allan group CEO Henrik Pederson, who will continue to lead the business alongside the existing management team, commented: "The announcement today is a real endorsement of the critical nature of the services we provide, our dedicated people, and the growth potential in the environmental services market we operate in.”
Pederson added that the Goldman Sachs team “share our vision on the next phase of growth, enabling us to continue to support our customers overcome their biggest environmental challenges of the 21st century."
Jose Barreto and Mihir Lal from the private equity business at Goldman Sachs Alternatives, said: "Adler & Allan has a 100-year heritage in supporting operators of critical infrastructure assets with their most complex environmental challenges including pollution, climate change, sustainability and preventing environmental harm. We have been impressed with the company's leading reputation for high service quality, deep technical expertise and the breadth of their service offering.”
"We are delighted to partner with the Adler & Allan team and look forward to accelerating the company's growth trajectory. We see tremendous value creation opportunity for the business via our platform both organically, and through a targeted acquisition strategy both in the UK and overseas with a continued focus on sustainability, climate transition, and water."
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