Aliter-backed Halcyon completes investment in FingerPrint
its second in the healthcare software and its second in the healthcare software and data analytics sector
Aliter Capital LLP (Aliter), the specialist investor focused on small to mid-sized UK Support Services businesses, has announced the completion of an investment in FingerPrint Global Ltd (FingerPrint). Aliter is currently investing from its recently announced £134m second fund, Aliter Capital II.
This represents Aliter’s second investment within its ‘Halcyon’ platform which aims to create a market leading, UK-based healthcare-focused software and data analytics group.
FingerPrint is a provider of specialist audit and lifecycle tracking ‘Track & Trace’ solutions related to the sterilisation and decontamination of surgical instruments within clinical environments. The business has an extensive library of procedures, supporting data streams and a proven ability to capture market share through product innovation and longstanding customer relationships.
FingerPrint becomes part of Aliter’s Halcyon platform, joining existing portfolio company Net Solving, a digital health data analytics platform providing web-based data collection systems for clinical audits, disease and patient registries and quality improvement programmes.
Tig Miller, Managing Director of FingerPrint said: “FingerPrint has great growth potential and having built a strong relationship with Aliter and Halcyon, we are confident we can achieve this faster and more efficiently with their support. The team and I are very excited to be joining Halcyon and believe that being a part of a wider group will create further opportunities for our business and customers.”
Gordon Cooper, Group CEO of Halcyon said: “Aliter continues to prove they are the right partner to support Halcyon. They have a strong commitment to developing Halcyon as a tightly integrated UK healthcare-focused data and software services provider to the NHS and private segments. With that in mind, we are delighted to welcome FingerPrint’s technology and team to the growing group.”
Greig Brown, Aliter Partner said: “It takes time to choose the right fit for Halcyon having come across many businesses within the Healthcare space. We chose FingerPrint because they are a great fit with our core strategy and because they bring a fantastic team of people to the group, as well as market leading technology. We look forward to continuing to create new and exciting opportunities within the healthcare space.”
This latest deal is consistent with Aliter’s investment strategy of acquiring and integrating smaller businesses to create sophisticated, professional medium sized operators within fragmented markets. Aliter focuses on using its deep industrial expertise and broad networks to help drive both organic and acquisitive growth, to gain scale and a national footprint. Aliter is actively looking to acquire complementary businesses as bolt-ons for this platform.
About FingerPrint (www.fingerprint.co.uk)
Founded in 1993 by Tig Miller, Ken Pegg and Andy Maule, FingerPrint is a provider of specialised audit and lifecycle tracking solutions for sterilisation and decontamination of surgical instruments in the UK and Ireland. Having developed its first Track & Trace product in 1996, the business today has four core solutions: an audit and management solution for surgical equipment ‘Tracker’, an Endoscope lifecycle audit solution ‘ScopeTrack’, a patient-level audit of all items used during theatre procedures ‘Theatre Trace’, and a solution for hospital loan set traceability audits ‘MS1’.
Aliter was founded by a group of seasoned support services entrepreneurs and investors – Billy Allan, Greig Brown, Andy Galloway and Andrew Busby – and focuses on small and mid-sized businesses in the UK support services sector, a market valued at over £300 billion. Its approach differs from traditional private equity models by making only a limited number of selective portfolio investments to deliver dedicated hands-on support. Aliter has now closed more than 20 transactions since the beginning of 2017 across its two funds Aliter Capital I and II.