Sun European Partners, LLP Affiliate Agrees to Sell Adler & Allan to Goldman Sachs Alternatives
April 30 2024 - 5:00AM
Business Wire
- Adler & Allan is the UK’s leading environmental risk
reduction specialist, providing preventative maintenance services
and emergency response solutions.
- Sun European continues to demonstrate their strong buy &
build capabilities in the services sector.
An affiliate of Sun European Partners, LLP (“Sun European
Partners” or “Sun European”), today announces 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 the leading UK environmental risk reduction specialist
operating across three core divisions: Environmental Services,
Energy Services, and Water Services. Adler & Allan is the only
player in the UK of scale with the most sophisticated service
offering and professionalised go to market approach, providing
unique nationwide coverage and serving 2,500+ customers.
Adler & Allan was acquired by an affiliate of Sun European
in November 2020. Following the acquisition, Sun European 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 European 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 European 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, LLP is a leading private
investment advisory firm, focused on partnering with outstanding
management teams to accelerate value creation. Sun European
Partners is a trusted partner that is recognised for its investment
and operational experience, including particular expertise in the
services, industrials & distribution and food & consumer
sectors. Since 1995, affiliates of Sun European Partners have
invested in more than 540 companies worldwide across a broad range
of industries and transaction structures with turnover of
approximately €40 billion. Sun European Partners has offices in
London and affiliates with offices in Boca Raton, Los Angeles, and
New York. Follow us on LinkedIn.
Adler & Allan provide market leading environmental
risk reduction through preventative and responsive solutions,
offering an expert 24-7 service to its customers. Adler &
Allan’s customers include multinational blue-chip organisations
across a wide range of sectors both private and public. Adler &
Allan give its customers peace of mind in detecting and identifying
the environmental risks posed to their business. Its broad range of
risk mitigation products and services keep businesses strong,
reducing the prospect of litigation, costly fines and bad
publicity, as well as reducing the threat to the environment. In a
world where the environment and legislation are in constant flux,
Adler & Allan also provides emergency response in a variety of
settings. Learn more about Adler & Allan
https://www.adlerandallan.co.uk/
Private Equity at Goldman Sachs Alternatives
Goldman Sachs (NYSE: GS) is one of the leading investors in
alternatives globally, with over $450 billion in assets and more
than 30 years of experience. The business invests in the full
spectrum of alternatives including private equity, growth equity,
private credit, real estate, infrastructure, hedge funds and
sustainability. Clients access these solutions through direct
strategies, customized partnerships, and open-architecture
programs. The business is driven by a focus on partnership and
shared success with its clients, seeking to deliver long-term
investment performance drawing on its global network and deep
expertise across industries and markets. The alternative
investments platform is part of Goldman Sachs Asset Management,
which delivers investment and advisory services across public and
private markets for the world’s leading institutions, financial
advisors and individuals. Goldman Sachs has over $2.8 trillion in
assets under supervision globally as of December 31, 2023.
Established in 1986, Private Equity at Goldman Sachs Alternatives
has invested over $75 billion since inception. The business
combines a global network of relationships, unique insight across
markets, industries and regions, and the worldwide resources of
Goldman Sachs to build businesses and accelerate value creation
across its portfolios. Follow us on LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20240430714850/en/
Adler & Allan Matt Hanson
Matt.Hanson@adlerandallan.co.uk Sun European Partners, LLP.
Pia De Sousa pdesousa@suncappart.com Goldman Sachs
Alternatives Joseph Stein Joseph.Stein@gs.com T +44 207 774
4080