The exit of ALS to business services provider Capita realises an IRR of 40 per cent on the CtE Fund’s original investment. The disclosed IRR suggests the fund sold its stake for more than £30 million.

Maven invested a total of £1.5m from the CfE Fund to ALS, in two equal investments, back in 2010.

Gavin Wheeldon, chief executive of Applied Language Solutions says: ‘We would like to thank Maven for their support over the last two years which has allowed the business to take significant steps forward in terms of sales and profits.’

In 2010, ALS reported a turnover of £10.6 million through its international sales of multi-language sevices. In 2009, ALS featured in the Sunday Times Fast Track 100, which ranks UK companies by turnover growth.

Wheeldon adds: ‘We are delighted with the sale to Capita and look forward to continuing to grow our business with them.’

Jonty Hall, investment manager at Maven says: ‘We are delighted Capita has acquired the business and believe it’s the right partner to allow ALS to continue its exciting growth strategy.

‘This exit demonstrates the value of the CfE Fund in supporting ambitious UK businesses like ALS.’

The £75 million CfE fund was set up in January 2009 with the intention of helping thriving businesses struggling to secure finance because of the credit crunch.