Soho Square Exits Alpine Fire Engineers Following 4 Years of Strong Growth
LONDON--(BUSINESS WIRE)--Dec 21, 2022--
Soho Square Capital LLP (“Soho Square”), an investment firm focused on serving the financing needs of established and growing UK and European SMEs, announced that it has exited its investment in Alpine Fire Engineers (“Alpine” or “the Company”) to WestBridge, a private equity house that invests in UK small cap buyouts and lower mid-market companies, following a period of strong growth for the Company.
Alpine is a market leading UK fire safety services specialist providing design, project management and maintenance services to a long standing and recurring blue chip customer base. Led by its high quality and committed management team, Alpine has built a reputation for technical excellence and best in class service.
Soho Square became Alpine’s first institutional investor in 2018, backing an acceleration of the company’s expansion plans which saw sales and EBITDA each increase by over fourfold. Working closely with the business, Soho Square has supported a number of key areas of investment and development, including a bolt on acquisition, the strengthening of Alpine’s management team, an almost threefold increase in employees and the implementation of new CRM and CAFM systems.
David Steel, Director at Soho Square Capital, commented:
“After four enjoyable years supporting Alpine, we say goodbye to a much bigger and operationally better business with a great culture at its core. The Alpine team led by CEO Steven Nanda have done a fantastic job in growing the business, building a strong management team, and embedding robust operational, IT and reporting systems that will underpin their next phase of organic and acquisitive growth. We wish Steve and his team the very best for a successful future with their new partners WestBridge.”
Steven Nanda, CEO of Alpine Fire, commented:
“Having joined Alpine as CEO when Soho Square invested, we have delivered phenomenal growth across the business. Soho Square brought a new perspective and they have been instrumental in supporting an acceleration of our growth and development, whilst giving us the autonomy to get on with running the business. We have a really strong order book and a phenomenal team for next year and are excited to be working with WestBridge to continue our growth and capitalizing on Alpine’s strong position in the market.”
Soho Square’s deal team was led by David Steel (Director) and Howard Chan (Consultant). Soho Square and Alpine were advised by Clearwater International (corporate finance), Addleshaw Goddard (legal), Grant Thornton (financial due diligence) and Strategy& (commercial due diligence).
Soho Square Capital is an investment firm focused on providing flexible capital solutions, typically in the form of senior or preferred capital with minority equity stakes, to established and growing UK and northern European SMEs.
WestBridge’s deal team was led by Peter Barkley (Director), James MacLeay (Senior Investment Manager), Rory Whitrow (Investment Analyst) and James Wakefield (Partner). WestBridge was advised by Grant Thornton (corporate finance & debt advisory), Pinsent Masons (legal), BDO (financial due diligence) and Armstrong Transaction Services (commercial due diligence).
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About Soho Square Capital
Soho Square Capital is an investment firm focused on providing flexible capital solutions, typically in the form of senior or preferred capital with minority equity stakes, to established and growing UK and European SMEs. Headquartered in London, the firm is led by a highly experienced team that has been investing together for over 15 years, through many economic cycles and have the expertise and flexibility to invest up to £45 million in any given transaction, across the capital structure, from senior debt to equity. The team works closely with business owners and management teams to structure innovative, bespoke financing solutions and offer enhanced portfolio company support.
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KEYWORD: UNITED KINGDOM EUROPE
INDUSTRY KEYWORD: SMALL BUSINESS PROFESSIONAL SERVICES FINANCE
SOURCE: Soho Square Capital LLP
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PUB: 12/21/2022 11:11 AM/DISC: 12/21/2022 11:11 AM