Houlihan Lokey Advises Adler & Allan
Houlihan Lokey is pleased to announce that Adler & Allan, a leading U.K. environmental risk reduction specialist and an affiliated portfolio company of Sun European Partners, LLP (Sun European), has been acquired by the private equity business at Goldman Sachs Alternatives. The transaction was closed on 15 August 2024.
Founded in 1926 and headquartered in Harrogate, Adler & Allan is the leading U.K. environmental risk reduction specialist operating across three core divisions: Environmental Services, Energy Services, and Water Services. Adler & Allan is the only player in the U.K. of scale with the most sophisticated service offering and professionalised go-to-market approach, providing unique nationwide coverage and serving more than 2,500 customers.
Adler & Allan was acquired by an affiliate of Sun European in November 2020. Following the acquisition, Sun European worked with Adler & Allan’s leadership team to accelerate growth and value creation by completing nine strategic add-ons, bolstering the management team, demonstrating the ability to cross-sell services into the existing customer base, and diversifying the business away from hydrocarbons and into renewable energy services. In addition, Adler & Allan created a new Water Division, which is helping to address the major water and wastewater-related challenges in the U.K.
Sun European is a leading private investment advisory firm focused on partnering with outstanding management teams to accelerate value creation. It is a trusted partner that is recognised for its investment and operational experience, including particular expertise in the services, industrials, and distribution and food and consumer sectors. Since 1995, Sun European affiliates have invested in more than 540 companies worldwide across a broad range of industries and transaction structures, with a turnover of approximately €40 billion. Sun European has offices in London and affiliates with offices in Boca Raton, Los Angeles, and New York.
Goldman Sachs (NYSE:GS) is one of the leading global investors in alternatives, with more than $450 billion in assets and over 30 years of experience. The alternative investments platform is a part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors, and individuals. Established in 1986, Private Equity at Goldman Sachs Alternatives has invested more than $75 billion since its inception. The business combines a global network of relationships, unique insight across markets, industries, and regions, and the worldwide resources of Goldman Sachs to build businesses and accelerate value creation across its portfolios.
Houlihan Lokey served as the exclusive financial advisor to Sun European and the Adler & Allan shareholders in a deal that exemplifies the continued success of Houlihan Lokey’s dedicated global coverage of the environmental consulting and compliance services sector. The transaction represents the second time Houlihan Lokey has advised Adler & Allan, having previously served as the exclusive financial advisor to Adler & Allan on its acquisition by Sun European in 2020.
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