DEAL ANNOUNCEMENT: HURST Advises Alpine Fire Engineers On BIMBO Backed By Core Capital Partners

Posted: May 15, 2018
Expert:
Nigel Barratt

A team at HURST has advised Alpine Fire Engineers on a deal which sees private equity fund Core Capital Partners invest in the business. The backing from Core Capital will enable Alpine to accelerate its expansion plans.

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Alpine, which is based in Littleborough, is a market-leading designer, project manager, service, and maintenance provider of active fire suppression systems, such as sprinkler systems. The company, which has over 30 staff and revenues of more than £15m a year, was founded in 1992 by Ted Smith, the father of managing director David Smith.

Nigel Barratt and Lauren Roberts, of HURST Corporate Finance, and Liz Gallagher of HURST’s tax team advised Alpine on the transaction. Mark Heppell, of JMW Solicitors, provided legal advice. 

Alpine has experienced significant growth in recent years and following Core Capital’s investment will seek bolt-on acquisitions as well as continued organic expansion. Core Capital’s backing will also support the development of Alpine’s service and maintenance offering in addition to investment in its IT systems.

Following the deal, the existing Alpine management team will remain significant shareholders along with new chief executive Steven Nanda, who has joined after seven years as managing director of industrial services at SPIE UK.

Core Capital partner David Steel also joins the Alpine board.

He said: “Alpine is already a very successful business, with a high-quality management team and a strong presence with its loyal customer base. “Given our experience in supporting high-growth companies, we see considerable opportunity for Core Capital to work with Alpine as it looks to build its market share in this very interesting sector.”

lauren-roberts-hurst-corporate-finance-manager Lauren Roberts - HURST Corporate Finance Manager 

Lauren Roberts said: “Having worked closely with the shareholders at Alpine Fire Engineers, a long-standing client of HURST, we are delighted to secure the right deal for them, the existing management team and incoming investor Core Capital. “The investment combined with Steven Nanda’s experience will enable the business to embark on its next phase of growth.”

David Smith said: “We are delighted to welcome Core Capital as investors in the business, which gives us the opportunity to take the company to the next level. "We are also pleased to welcome Steven as our new chief executive. He brings a wealth of experience and knowledge to the business.”

Steven Nanda said: “I am delighted to have joined Alpine as CEO. The employees, customers, and sector expertise have built a fantastic platform for the business to continue to succeed. “Bringing in an external institutional investor who has supported rapid growth across a range of businesses will bring a new perspective and help to accelerate our development.”

If you are thinking about an MBO, business disposal, or an acquisition please contact us at inspired@hurst.co.uk