Andover, MA – December 2015 – ALKU, a highly specialized consulting services firm, today announced it has secured a minority equity investment from WestView Capital Partners, a Boston-based private equity firm focused on middle market growth companies.
Founded in 2008, ALKU ranks as one of the fastest growing firms within its industry. Maintaining a historical compound annual growth rate of over 55%, ALKU achieved over $80 million in revenue in just its seventh year in operations. Since inception, ALKU has consistently received national recognition for its industry-leading growth, company culture and success.
Operating under its three divisions: ALKU Technologies, ALKU Quality and ALKU Government Solutions, ALKU focuses on deploying specialized, highly skilled consulting resources on a contract basis nationwide. The Company’s ability to provide subject matter expertise and unique, specific skill sets for its clients combined with its disciplined approach to operations has driven the Company’s superior performance.
“Since the beginning ALKU has been focused on growth because it creates more opportunity for our candidates, clients and internal employees. It’s that opportunity that keeps people excited about working with and for us,” said Mark Eldridge, CEO of ALKU. “WestView emerged as the perfect partner because they immediately understood our culture and supported our goals for continued growth and opportunity creation.”
Mr. Eldridge continued, “We chose to pursue this path after careful consideration of the future of ALKU and the type of partner we would want to help support us in achieving our goals. We selected Fairmount Partners as our exclusive advisor after developing a strong fit with their team and appreciation for their thorough approach. Fairmount immediately understood that our business is different from traditional staffing models and did an excellent job of leading and advising us through this process.”
“We are pleased to announce our partnership with ALKU,” said Jonathan Hunnicutt, a General Partner at WestView. “Given ALKU’s impressive growth and performance, we are very excited to support the ALKU management team and help build upon their strong position in the industry.”
“ALKU is an absolutely superb company – one of the finest in the professional services industry,” commented Dick Thatcher, Managing Director of Fairmount’s IT and Business Services practice. “It has been an exceptional pleasure to partner with Mark Eldridge and his team to achieve this significant transaction success in conjunction with WestView. The combined ALKU and WestView teams, with support from third-party advisors, closed the transaction in approximately 45 days following the execution of the Letter of Intent. Fairmount Partners is very pleased to have supported ALKU and WestView towards achieving their collective goals and this promising partnership going forward.”
Fairmount Partners served as ALKU’s exclusive financial advisor on the transaction, while Blank Rome provided legal counsel. WestView was advised by Latham & Watkins. Senior debt financing was provided by Abacus Finance Group and Crescent Direct Lending.
ALKU is a specialized consulting services firm based in Andover, Massachusetts, focused on deploying highly skilled consulting resources through three niche-focused divisions: ALKU Technologies, ALKU Quality and ALKU Government Solutions. ALKU Technologies assists clients with ERP implementations specifically within the areas of SAP, PeopleSoft, and Workday. ALKU Quality provides clients with FDA remediation, validation, and compliance services. ALKU Government Solutions provides cleared consulting resources that support high level IT infrastructure for a variety of Governmental agencies. To learn more about ALKU visitwww.alku.com.
About WestView Capital Partners:
WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1 billion in capital across three funds. WestView partners with existing management teams to sponsor majority and minority recapitalizations, growth, and consolidation transactions in industries such as business services, software and IT services, consumer, healthcare technology and outsourcing and growth industrial. WestView invests in companies with operating profits between $3 million and $20 million with investment sizes ranging from $10 million to $50 million. For more information, please visitwww.wvcapital.com.
About Fairmount Partners:
Fairmount Partners is one of the largest investment banking groups in the Mid-Atlantic region. The firm specializes in advising middle-market growth companies with mergers and acquisitions, capital raising and strategic advice. Fairmount offers deep expertise in technology and healthcare services and related products. Fairmount has completed more than 160 transactions throughout North and South America, Europe, Asia and Australia. For more information, please visit: http://www.fairmountpartners.com
Principals of Fairmount Partners acted as advisors to ALKU in this transaction.
Fairmount Partners is a registered Broker Dealer, member FINRA (www.finra.org) and SIPC (www.sipc.org).