Aliter Capital
- Company typePrivate
- Founded2017
- HeadquartersLondon, United Kingdom
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Aliter Capital does
Aliter Capital is a UK private equity firm founded in 2017 by four operating partners — Billy Allan, Greig Brown, Andy Galloway, and Andrew Busby — focused exclusively on UK support services SMEs. The firm pursues a buy-and-build strategy, acquiring platform businesses with EBITDA typically in the £1m–£5m range and consolidating fragmented sub-sectors through follow-on M&A. It operates two funds: Aliter Capital I (£92m, 2017–2022) which closed 21 transactions and delivered combined revenue growth of 570% and EBITDA growth of 590% across portfolio companies, and Aliter Capital II (£134m, launched 2022), giving total assets under management of £242m backed by US and European institutional investors including pension funds, funds of funds, university endowments, and charitable foundations.
The firm's current portfolio comprises four principal platform groups: TXP (Technology x People), a mid-market IT consultancy and resourcing group that absorbed Jumar, Concept, Metatech, and the Portugal/Brazil-based Vigil; Serbus, a unified critical network infrastructure provider for UK Critical National Infrastructure formed from ITM Communications, Bates IT, and the original Serbus; Orwins, a national legal services group combining BBS Law, Carter Bond, and Clarkslegal; and supporting holdings in Athera Healthcare and Sponge. Realised investments include Ipsum Utilities, North, and MARCH (formerly Edwin James Group). Aliter is authorised and regulated by the Financial Conduct Authority (No. 773712) and operates from London and Glasgow, with portfolio operations headquarters in Milton Keynes (Serbus), Manchester, London, and Reading.
Aliter generates revenue through two primary streams: recurring management fees on its £242m of funds under management, and performance-based carried interest from successful portfolio exits. Distribution is direct and relationship-driven — institutional LPs are engaged bilaterally for fund commitments, while deal flow is sourced through the founding partners' operating networks, advisor referrals, and the firm's track record. Pricing (fee rates, hurdle structures, carry splits) is not publicly disclosed.
Aliter Capital firmographics
Firmographics- Name
- Aliter Capital
- Legal name
- Aliter Capital LLP
- Website
- https://alitercap.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Ownership category
- akta.pro rank
Aliter Capital industry classification
Industry- Product category
- Private Equity Fund Management
- NAICS
- Other Investment Pools and Funds (5259), Other Financial Investment Activities (5239)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Technology & Software Growth Equity (FSANACAA)
Keywords
Where Aliter Capital is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices3 records
Markets served
Aliter Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others, Technology or R&D
Revenue model
- Fund Management Fees: Aliter charges management fees on their funds under management (currently £242m total funds). These fees provide recurring revenue to cover operations and generate baseline returns for the firm.
- Carried Interest: Performance-based carried interest from successful portfolio company exits. Fund I delivered 'outstanding returns' to investors and owner-managers, indicating significant carry generation. This aligns interest between Aliter and investors.
- Capital Deployment Returns: Returns from equity investments in portfolio companies. Aliter's partners have made 'significant financial commitment' alongside institutional investors, sharing directly in investment outcomes.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Aliter Capital product offering
Product offeringCore offering
Aliter Capital is a UK private equity firm that raises capital from institutional investors and deploys it as growth equity into UK support services SMEs. It pursues a buy-and-build strategy, acquiring platform businesses and executing follow-on acquisitions to build national providers in fragmented markets. The firm partners with owner-managers, providing operational expertise and M&A execution capability alongside capital, with Fund I having executed 21 transactions and total funds under management of £242m.
Product overview
Aliter Capital is a private equity firm focused on UK support services SMEs, operating through a portfolio of platform investments in distinct sectors. The portfolio comprises: TXP (Technology x People) providing IT consultancy, development, and outsourcing for mid-market; Serbus delivering critical network infrastructure and secure communications for UK CNI; Orwins offering full-service commercial legal services; Sponge and Athera Healthcare in healthcare/services sectors. Realised investments include Ipsum Utilities, North, and MARCH. Fund I (2017-2022) achieved 570% revenue growth and 590% EBITDA growth across 21 transactions; Fund II (launched 2022) has £134m for equity investments, with total funds under management of £242m.
Differentiator
Problem solved
Functional benefit
Products and services
- Aliter Capital I (Fund I) Aliter Capital's maiden private equity fund of £92m, deployed 2017-2022 across 21 equity investments in UK support services SMEs. Investors (LPs) commit capital and receive returns through capital appreciation and distributions from successful portfolio company exits. The fund delivered outstanding returns and is now in realisation phase.
- Aliter Capital II (Fund II) Aliter Capital's current active private equity fund of £134m, launched in 2022 for equity investments in UK support services companies. Open for institutional investor commitments, the fund continues the buy-and-build strategy targeting platform businesses in fragmented markets with EBITDA of £1m-£5m.
Quantifiable outcome
- 570% combined revenue growth in Fund I portfolio companies
- +4 more outcomes
Companies that use Aliter Capital
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles2 records
Aliter Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Aliter Capital partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- External ESG Advisory PartnerminorAliter has retained an external third party expert to advise on regulatory frameworks, guiding policies and industry best practice, metric choice, enhancements to the due diligence process, and ongoing portfolio company ESG engagement.
Scale indicators12 records
Recent moves9 records
Expansion highlights6 records
Aliter Capital competitors and assessment
Company assessmentDirect peers
- Synova Capital: UK mid-market growth equity firm focused on high-growth businesses. Comparable deal sizes and approach to ambitious UK SMEs with operational support.
- Tenzing Private Equity: UK mid-market PE firm backing ambitious UK SMEs, often with founder/owner-manager alignment. Similar deal size and sector overlap with Aliter's portfolio approach.
- LDC (Lloyds Development Capital): One of the most active UK mid-market PE investors, backing UK SMEs with similar buy-and-build strategies. Direct competitor for the same fragmented UK business services opportunities.
- Inflexion Private Equity: UK mid-market PE firm investing in UK and European businesses with a similar focus on ambitious management teams and operational value creation through buy-and-build strategies.
- Livingbridge: UK-focused growth equity investor backing ambitious SMEs, often in business services and technology-enabled services. Competes directly for the same UK support services deal flow.
- Lyceum Capital: UK mid-market PE investor focused on business services and tech-enabled service companies. Directly comparable in target sectors, including professional services.
- ECI Partners: UK growth equity firm with long history of investing in UK SMEs across business services, technology, and financial services. Direct competitor in similar deal sizes and sectors.
- Perwyn: UK-based PE firm investing in mid-market businesses with similar deal sizes. Active in UK business services and supports management teams with operational expertise.
- Maven Capital Partners: UK mid-market PE firm with regional focus, backing SMEs across business services. Comparable in fund size range and UK SME buy-and-build strategy.
- August Equity: UK lower-mid-market PE firm with comparable fund size and focus on UK SMEs. Similar buy-and-build strategy targeting business services and fragmented markets.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Aliter Capital social profiles
Digital presenceAliter Capital compliance and trust
Trust signalCompliance1 record
Aliter Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Aliter Capital leadership team
Management profileNumber of profiles
Profiles8 records
Aliter Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Aliter Capital M&A and investment
M&A and investmentM&A4 records
Investments10 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Aliter Capital
What does Aliter Capital do?
Aliter Capital is a UK private equity firm that raises capital from institutional investors and deploys it as growth equity into UK support services SMEs. It pursues a buy-and-build strategy, acquiring platform businesses and executing follow-on acquisitions to build national providers in fragmented markets. The firm partners with owner-managers, providing operational expertise and M&A execution capability alongside capital, with Fund I having executed 21 transactions and total funds under management of £242m.
Is Aliter Capital a public or private company?
Aliter Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Aliter Capital founded?
Aliter Capital was founded in 2017. It employs 1 to 10 people.
Where is Aliter Capital based?
Aliter Capital is headquartered in London, United Kingdom, in the Europe region.
How does Aliter Capital make money?
Three revenue lines are on record. Fund Management Fees are the primary driver. The others are carried Interest and capital Deployment Returns.
Who are Aliter Capital's main competitors?
Direct peers on record are Synova Capital, Tenzing Private Equity, LDC (Lloyds Development Capital), Inflexion Private Equity, Livingbridge, Lyceum Capital, ECI Partners, Perwyn, Maven Capital Partners and August Equity.
Does Aliter Capital have an API?
No public API is recorded for Aliter Capital.
What industry is Aliter Capital in?
Aliter Capital's product category is Private Equity Fund Management. Its primary akta.pro industry code is FSANACAA, Technology & Software Growth Equity. Its NAICS code is 5259 and its SIC code is 6199.