News Room
5 August 2008
Aberdeen Asset Managers Growth Capital exits from ID Support Services Holdings Limited
Aberdeen Asset Managers Growth Capital has completed an exit from ID Support Services Holdings Limited (“IDSSH”) by way of a secondary buy-out backed by Penta Capital Partners Limited. Clients of Aberdeen originally invested £3 million in March 2007 to support a primary buy-out of the company alongside the Executive Chairman, Brian Dunn and the Group Chief Executive, David Metcalfe.
IDSSH is the holding company for the two main operating subsidiaries namely ID Technology Group Limited (“IDT”) and GK Industrial Limited (“GK”). IDT provides a range of electronic security solutions to multi-site blue chip clients primarily in the casino and retail sectors. GK provides industrial air conditioning, refrigeration and energy efficiency solutions to multi-site blue chip clients mainly in the retail and healthcare sectors.
The secondary buy-out will also provide the company with additional facilities to acquire further complimentary businesses. The sale realised an overall return of 1.8x money on the investment and an IRR of 61%. Clients of Aberdeen will continue to hold a nominal equity stake in the company.
Andrew Craig, Investment Director, Growth Capital, said:
“We have enjoyed working alongside the team at IDSSH since we originally invested in the business in March 2007 and are delighted with the return for AAMGC clients. This additional capital investment will also allow management to continue their exciting growth plans for the business.”
David Metcalfe, Group Chief Executive of ID Support Services Holdings Limited, said:
“AAMGC invested in the group in its early growth stage having bought in to our strategic vision for the business. They have been very supportive in a period of rapid growth and have been a trusted partner of the management team. We are very pleased to have over-delivered on our business plan and to have realised a great return for AAMGC clients. ”
 | Our downloads are formatted as PDF documents. In order to view these links please make sure you have Adobe Acrobat Reader installed on your computer. |