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Sun Capital Affiliate Agrees to Sell Adler & Allan to Goldman Sachs Alternatives.

London, April 30, 2024  – An affiliate of Sun Capital Partners (“Sun Capital Partners” or “Sun Capital”), announced that it has agreed to sell Adler & Allan (or the “Company”) a leading UK environmental risk reduction specialist to the private equity business at Goldman Sachs Alternatives (or “Goldman Sachs”). The sale is conditional on receipt of customary anti-trust and NSIA approvals and is expected to close in the next couple of months.

Founded in 1926 and headquartered in Harrogate, Adler & Allan is a leading UK-based environmental risk reduction specialist, supporting organizations in managing, improving, maintaining, and upgrading their critical infrastructure across the entire asset lifecycle. The Company is a national turnkey partner to the utilities sector with services from strategic infrastructure advice, monitoring, data and analytics, frontline operational capability, and environmental consultancy.

Adler & Allan was acquired by an affiliate of Sun Capital in November 2020. Following the acquisition, Sun worked with Adler & Allan’s leadership team to accelerate growth and value creation by completing nine strategic add-ons, bolstering the management team, demonstrating the ability to cross-sell services into the existing customer base, and diversifying the business away from hydrocarbons and into renewable energy services. In addition, Adler & Allan created a new Water Division which is helping to address the major water and wastewater related challenges in the UK.

Alexander Wyndham, Managing Director at *Sun European Partners, said: “It was a pleasure working alongside Bob, Henrik, and the whole Adler & Allan team. We were able to draw on our strong buy & build expertise and operational experience to drive growth and innovation. We look forward to watching them continue their growth trajectory with their new investor. We’d like to thank them for all their hard work and wish them all the success for the future.”

Henrik Pedersen, CEO at Adler & Allan, said: Our partnership with the Sun team has been a great success. Our shared values and focus on high quality service has enabled Adler & Allan to continue to strengthen its leading position in the environmental risk management market. We look forward to our partnership with the Goldman Sachs team and a new growth phase for Adler & Allan.

Jose Barreto and Mihir Lal from the Private Equity business at Goldman Sachs Alternatives, commented: “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.”

Sun Capital affiliate was advised on the transaction by Houlihan Lokey (M&A), OC&C (Commercial), KPMG (Financial & Tax), Weil, Gotshal & Manges LLP (Legal) and Park Place (Management). Goldman Sachs was advised on the transaction by Linklaters (Legal), EY Parthenon (Commercial), and KPMG (Financial & Tax).

*Sun European Partners is the European adviser to U.S. based Sun Capital Partners, Inc.

Media Contacts: 

Sun Capital Partners
Pia De Sousa / pdesousa@suncappart.com

Adler & Allan
Matt Hanson / Matt.Hanson@adlerandallan.co.uk

Goldman Sachs Alternatives
Joseph Stein / Joseph.Stein@gs.com / T +44 207 774 4080

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