- Type of finance
- Business need
Buying a business
“The support from the Development Bank of Wales was about so much more than just the money. They’ve believed in us every step of the way and stood by our side from when we first started preparing for the MBO, providing support and guidance to allow ALS to flourish. Through that support, we’ve been able to achieve remarkable progress over the last few years."
A leading recruitment firm specialising in the UK wide recycling, warehousing, distribution and manufacturing sectors, ALS People has a blue-chip customer base including major national companies.
In 2018, the Development Bank supported the company with an equity and loan investment to enable a management buyout. The Development Bank took a 20% stake in the company as part of the deal. The funding which came from the Wales Management Succession Fund enabled the company to relocate to a new 3,500 sq. ft office at Van Road Business Park, Caerphilly and grow the team from 17 to 46 including three new board directors.
ALS has grown from approximately a £13 million run rate in 2018 to £55 million in 2021. CEO Steve Lanigan has since bought back the 20% stake taken by the Development Bank.