Jamieson Corporate Finance has advised the management team of Alliance Medical on their £600m acquisition by Dubai International Capital LLC, the international investment arm of Dubai Holding. Alliance has been owned by European Private Equity firm Bridgepoint Capital since 2001.
Alliance Medical was founded in 1989 and provides a range of diagnostic imaging services (including MRI, CT and PET) used in both private and publicly owned hospitals across Europe. It also manages static and mobile scanners. In the past six years, Alliance Medical has successfully consolidated its UK market position as well as expanded into Continental Europe through 16 acquisitions, most notably in Ireland, Italy, Germany, the Netherlands and Spain.
Based in Warwickshire, Alliance Medical operates more than 190 scanners and for the year ended 31 March 2007 had revenues of £132 million. Since 2001, Alliance Medical has increased revenues six fold, profits five fold and employee numbers have risen from 177 to 690.
“Alan Pilgrim and his team have achieved an enormous amount with the business since we first started working with them in early 2006. In DIC they have found an ideal investor to support their continuing expansion plans and further strengthen Alliance’s market leading position both in the UK and overseas. We are very pleased to have helped them put an appropriate capital structure and management incentive plan in place for the company’s next stage of development.”
Stuart Coventry, Jamieson
This transaction is subject to the appropriate regulatory approvals.