Adler & Allan - changing grades

Environmental risk reduction specialist Adler & Allan is being sold to the private equity business at Goldman Sachs Alternatives which will acquire a majority stake.

Founded in 1926 and headquartered in Harrogate, Adler & Allan describes itself as the leading UK environmental risk reduction specialist operating across three core divisions: Environmental Services, Energy Services, and Water Services. It works with forecourt owners, major retailers, and petroleum suppliers to help them overcome some of the biggest challenges with their assets, from managing fuel storage and pollution prevention to ensuring their drainage is regularly maintained and managed.

The company also recently acquired grid connection specilaist Utility Line to boost its electric vehicle charging services.

In November 2020, it was acquired by an affiliate of Sun European Partners, which has now agreed the sale to Goldman Sachs. Adler & Allan says the transaction is a key milestone in its mission to solve industries’ biggest environmental challenges from reducing pollution and preventing harm to the environment to mitigating the effects of climate change.

As it embarks on its next phase of growth, the company is focused on broadening its service offering to further support clients with a wide range of environmental risk challenges. It believes the partnership with Goldman Sachs will accelerate its growth plans both organically with investment in people, innovation, and technology, and through targeted M&A activity to expand its service offering and geographic footprint.

Henrik Pedersen, chief executive officer of Adler & Allan, said: “The announcement today is a real endorsement of the critical nature of the services we provide, our dedicated people, and the growth potential in the environmental services market we operate in. I’m deeply excited to partner with the Goldman Sachs team who share our vision on the next phase of growth, enabling us to continue to support our customers to overcome their biggest environmental challenges of the 21st century.”

Jose Barreto and Mihir Lal from the Private Equity business at Goldman Sachs Alternatives, commented: “Adler & Allan has a 100-year heritage in supporting operators of critical infrastructure assets with their most complex environmental challenges including pollution, climate change, sustainability and preventing environmental harm. We have been impressed with their leading reputation for high service quality, deep technical expertise, and the breadth of service offering. We are delighted to partner with the Adler & Allan team and look forward to accelerating the company’s growth trajectory both organically, and through a targeted acquisition strategy both in the UK and overseas with a continued focus on sustainability, climate transition, and water.”

The deal is expected to complete during the second half of 2024, subject to customary antitrust and regulatory approvals.