FFL Partners completes investment in ALKU
FFL Partners (FFL), a private equity firm focused on growth investments in middle market companies, has completed a majority investment in ALKU, a provider of highly specialised consulting and staffing services. Financial terms of the transaction were not disclosed.
ALKU CEO and Founder Mark Eldridge and the Company’s management team have invested alongside FFL to retain a significant minority ownership stake in the business. WestView Capital Partners, an existing minority investor in ALKU, has also invested in the recapitalization.
“The acquisition of ALKU reflects FFL’s multi-year focus on identifying HR services firms with outstanding management teams, differentiated market opportunities and compelling growth prospects,” says Cas Schneller, Partner at FFL. “ALKU is highly sought after for its strong industry expertise, expert consultants and high touch service. Their award-winning culture and talented executive leadership team have enabled the Company to consistently grow their business in attractive end-markets.”
Headquartered in Andover, Mass., ALKU is a high-end specialised staffing firm, focused on deploying highly skilled temporary consultants to businesses nationwide in areas of enterprise resource planning, life sciences, healthcare information technology, government programs, and information security. Since its inception in 2008, ALKU has consistently received national recognition for its industry-leading consultants and generating an annual compound growth rate of more than 55 per cent. The rapidly-growing business is well known for its unique and highly differentiated company culture.
FFL has invested more than $800 million in HR Services and human capital-based businesses across more than two decades, including companies such as ProService Hawaii, Korn Ferry, Crisis Prevention Institute Inc, and Accordion among others.
“FFL has a long history of partnering with founders and management teams to build best-in-class businesses, which is aligned with our vision for continuing to grow ALKU into a market leader in highly specialised consulting services,” says Eldridge. “We look forward to working closely with FFL on our strategic initiatives as we enter the next stage of our growth.”
“We’ve had first-hand experience with ALKU at a number of our portfolio companies, and we were very impressed with their speed, service and consultant quality,” said Jonathon Bunt, Director at FFL. “We’re excited to recapitalie ALKU at a time when the need for high-end temporary consulting talent is continuing to increase across the full range of technical and regulatory use cases the Company serves.”
ALKU and WestView Capital Partners were advised by William Blair & Company, L.L.C. and Latham & Watkins LLP. FFL was advised by Kirkland & Ellis LLP.