Adler and Allan secures funding from Aberdeen

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

Adler and Allan secured the funding in exchange for a minority shareholding in the business.

Managing director Mark Calvert says: ‘Our new funding structure will enable us to continue to support organic growth with selective acquisitions where appropriate.’

Aberdeen’s investment, which was topped up by debt from HSBC, was managed by Colin Stirling and Joe Wiley who have joined Adler and Allan’s board.

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

Stirling states that a favourable legislative and regulatory climate has encouraged the firm to invest in the sector.

Harrogate-based Adler and Allan has 16 offices nationwide and provides a range of services including emergency spill response work and storage tank maintenance.

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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