Private Equity Invests In ERP Technology Consultant ALKU
Andover, Massachusetts-based consulting services firm ALKU has secured a “significant” investment from FFL Partners, a San Francisco-based private equity firm focused on mid-size companies. Boston-based private equity firm WestView Capital Partners remains a co-investor in the ALKU.
ALKU provides contractors for technology projects and government agencies, specifically Enterprise Resource Planning (ERP), Healthcare IT, Life Sciences, Government Programs, and Information Security. AKLU – the company’s name is Finnish for “start” – has grown significantly since it was founded in 2008, reaching over $200 million in revenue in its 10th year of operations.
The investment will allow ALKU to continue expanding and diversify its service offerings in North America and aggressively pursue additional personnel hires, according to the company.
FFL has a extensive experience investing in HR-oriented services and human capital-based businesses. Similar investments include Accordion, Korn Ferry, and Crisis Prevention Institute, among others.
Private Equity Invests in ALKU: Executive Perspectives
ALKU CEO Mark Eldridge commented on the news:
“ALKU is fortunate to have found a partner in FFL that understands our business model, as well as our unique qualities and culture. Together, with WestView, we will have input and strategy that will allow us to continue to grow at 4x the industry pace.”
Cas Schneller, Partner at FFL, added:
“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. We look forward to partnering with Mark and the Leadership Team while providing the resources and support that will help accelerate the Company’s success.”
Staffing Companies: Mergers, Acquisitions and Investments
Companies which specialize in providing expert staff, often on a temporary or contract basis, have attracted the attention of investors and potential buyers alike in recent years. Whether these companies provide consultation services, talent, recruitment services, they are frequently the center of potential deals. The stories that ChannelE2E has covered include:
- March 2019: Chicago-based technology solutions provider Saggezza acquired Milwaukee-based IT consulting, talent, and software development firm Omni Resources through auction.
- Jun 2019: Techmate Technologies, an on-demand technical support platform for small businesses and consumers, joined the Entrepreneurs Roundtable Accelerator (ERA) in New York.
- November 2018: Computer programming consulting services provider TSR Inc. rejected an unsolicited buyout offer from QAR Industries.
- March 2018: Private equity firm Littlejohn & Co invested in Motion Recruitment Partners, a global IT staffing and recruitment firm.
- Sep 6, 2016: BlueLine Associates acquired BlueStaff Inc.‘s technology division.