Andover, MA and Boston, MA, ALKU, a highly specialized consulting services firm, today announced that it completed a majority recapitalization with FFL Partners (“FFL”). As part of the transaction, WestView Capital Partners received liquidity for its 2015 investment in ALKU.
ALKU focuses on deploying highly skilled consulting resources on a contract basis nationwide in the areas of Enterprise Resource Planning (ERP), Healthcare IT (HCIT), Life Sciences, Government Programs and Information Security. Founded in 2008, ALKU ranks as one of the fastest growing firms within its industry. Maintaining a historical compound annual growth rate of over 55 percent, ALKU achieved over $200 million in revenue in just its tenth year of operations.
As part of the transaction, FFL will partner with CEO Mark Eldridge and the ALKU management team as well as WestView, who will remain an investor in the Company. This investment enables ALKU to continue to expand and diversify its highly specialized service offerings in North America, as well as further establish its position as an industry leader in highly specialized consulting services. In addition, this investment will provide ALKU with the capital and operational resources to continue to aggressively grow and create new opportunities for additional personnel hires.
“Our partnership with WestView has been great. They have understood what makes ALKU unique and have been a strong partner in our growth and expansion,” said ALKU CEO Mark Eldridge. “We look forward to their continued involvement in the Company and the addition of FFL and their expertise and resources which will enable us to continue our rapid growth.”
“Mark and the ALKU leadership team are a special group of managers. They have built an exceptional growth-oriented business and have become a clear market leader. We are excited to continue to be involved in the next chapter of ALKU’s evolution,” said Jonathan Hunnicutt, General Partner at WestView, who will remain a member of ALKU’s Board of Directors.
ALKU and WestView Capital Partners were advised by William Blair & Company, L.L.C. and Latham & Watkins LLP.
Founded in 2008, ALKU is a specialized consulting services firm, focused on deploying highly skilled consulting resources into high growth end markets, including in the areas of ERP, Healthcare IT, Life Sciences, Government Programs and Information Security. ALKU serves a diverse base of blue-chip customers, including Fortune 500 corporations, leading pharmaceutical/life sciences companies, healthcare providers and Government agencies. For additional information, please visit www.alku.com.
WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1.7 billion in capital across four funds. WestView partners with existing management teams to sponsor minority and majority recapitalizations, growth and consolidation transactions in industries such as healthcare technology and outsourcing, business services, software and IT services, consumer, and growth industrial. For more information, please visit www.wvcapital.com.