Aberdeen Asset Managers Private Equity has invested more than £8.8 million in an oil and environmental services provider.

Aberdeen Asset Managers Private Equity has invested more than £8.8 million in an oil and environmental services provider.

Adler and Allan, a provider of oil, water and tank services, secured the funding in exchange for an undisclosed minority shareholding in the business.

The Harrogate-based company will use the capital to develop its business, with managing director Mark Calvert stating: “Our new funding structure will enable us to continue to support organic growth with selective acquisitions where appropriate.”

Aberdeen’s investment, which was complemented by debt provided by HSBC, was managed by Colin Stirling and Joe Wiley who have joined Adler and Allan’s board as a condition of the funding.

This is Aberdeen’s third private equity investment in the environmental services sector in the past nine months following its support for process engineer Enpure in November last year and regeneration specialist EDSR in February.

Stirling said the firm is investing in the environmental services sector due to favourable legislative and regulatory regimes.

Adler and Allan serves its blue chip clients through a nationwide network of 16 offices providing a range of services including emergency spill response work.