Alcumus - acquisition of Santia

Deal summary

Catalyst advised Alcumus on the £47 million acquisition of Santia, one of the UK’s leading providers of integrated health & safety and environment risk management services. This significant acquisition, completed within just eight weeks of the buy-out of Alcumus, which Catalyst also advised on, broadens Alcumus’s footprint in the accreditation and certification market. Equity funding for the acquisition was provided by Inflexion Private Equity together with acquisition debt from Alcentra.

Alcumus is the market-leading provider of technology-enabled compliance, certification and verification risk management solutions. It is a specialist in its field and, as a result of the acquisition of Santia, now has a wider, more diversified customer base. The enlarged business will serve over 30,000 clients both in the UK and internationally, including 35% of the FTSE 100, and will provide outsourced risk management services which are critical to compliance with UK regulations, internationally recognised standards and recognised contractor accreditation and supply chain verification schemes.

What difference did we make?

Catalyst advised Alcumus through the stages of the auction process, advising on bid tactics, locked box mechanics and valuation, as well as project managing the different due diligence work streams. In particular, Catalyst worked closely with management and Inflexion to develop a detailed business plan and model to support the acquisition process; addressing the potential integration issues and costs, and exploring the initial synergy potential. Catalyst also advised on raising additional debt finance from Alcumus’s existing debt provider Alcentra.

Alcumus was eventually granted a two week exclusivity period to complete the deal. This meant that the acquisition was finalised just eight weeks after the Alcumus secondary buy-out, and the two deals together represent a deployment of £140 million of capital in under three months.

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What our client said
“The addition of Santia represents a significant development for Alcumus; the combined Alcumus and Santia business makes us the major player in risk management solutions in the UK. Once again, Catalyst’s advice and support has been invaluable in achieving a successful deal.” Martin Smith, CEO