Broker ACS signs capital partner to accelerate growth plans
13 / 10 / 2016
Investment house Alcuin Capital Partners has taken a minority stake in Air Charter Service (ACS), the first external investor in the UK airfreight broker which is looking to accelerate its growth through acquisitions.
"The investment will see Alcuin purchase a minority stake in the business and provide a platform for a strategy of further growth through acquisition," said ACS in a statement.
On its website, Alcuin Capital Partners states that it specialises "in making growth capital investments and supporting management buy-outs in smaller-middle market companies based in the UK". Alcuin has been supporting entrepreneurs in this segment of the market for over 25 years.
Alcuin "typically" makes investments of between £2m and £15m in "growing, profitable businesses and has helped many of these grow into sizeable, market leading companies, often also expanding internationally".
Justin Bowman, chief executive of ACS, said: “The fact that this company has grown from the basement of a house to the largest charter brokerage in the world is a huge achievement and testament to our amazing team and corporate culture. However, we are still an ambitious organisation.
"Our growth to date has been entirely organic and whilst we will continue to follow those strategies that have been successful in the past, we wish to accelerate our expansion through capital investments in both technology and through acquisitions of complementary businesses.
"Alcuin brings to the table not just the access to capital but, more importantly, the expertise in corporate acquisition strategy, which we believe will be invaluable when implementing our plans for growth.”
Mark Storey, co-founder of Alcuin Capital Partners, said: “Air Charter Service is a leader in its field with a strong track record for growth. Their plans going forward are exciting and we are looking forward to working with their management team as they implement them.”
Alcuin’s current investment portfolio includes: Caffe Nero, The Groucho Club and Salt Yard Group.