First exit from Aliter’s second fund delivers strong returns
Aliter has confirmed the agreed sale of leading engineering services firm MARCH to EMK Capital (EMK), the European private equity firm.
MARCH delivers critical engineering services to support some of the UK’s leading brands in key sectors, including food and drink, nuclear, defence and utilities. Its network of 18 offices across the UK specialises in managing complex, regulated environments, providing a total engineering solution, from infrastructure management and process optimisation to digital automation.
The sale of MARCH to EMK is the first exit from Aliter’s £134m fund, Aliter Capital II, launched in early 2023, and delivers a strong return for its investors and co-investment partners.
The MARCH senior management team, led by CEO Christopher Kehoe, will continue to work in the Group and will be shareholders under its new ownership.
MARCH was Aliter’s first investment – made just after its maiden fund launch in 2017, when the business was known as Edwin James Group. In early 2023, Aliter supported a re-investment into MARCH through the acquisition of the group by Aliter’s second fund, Aliter Capital II, alongside co-investors. Throughout Aliter’s ownership, MARCH has continued to demonstrate strong organic growth, supported by seven acquisitions, to generate annual revenues over £195m.
Greig Brown, Partner at Aliter Capital, said: “We are extremely proud of the progress achieved with the team at MARCH, since our initial investment in 2017. The business has executed seven important strategic acquisitions during this period, solidifying its position as a UK market leader in engineering services. As the first exit from our second fund, launched less than two years ago, this deal underlines our ability to build great businesses and we believe it’s an excellent outcome for all parties involved.”
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