Crime-fighting software company doubles up with Santander financing
Investigations software company Altia Solutions Ltd have acquired ABM UK Ltd in a £1.2 million financing package which will double headcount and turnover over the next few years.
The acquisition marks a significant expansion for Altia, who already provide software to every police force in the UK, as ABM's 25 year record in intelligence software means they now have access to new markets within the police investigations sector. This acquisition will move the business towards becoming a £10 million turnover business.
Ian Watson, Managing Director, Altia Solutions Limited, said:
“When we were investigating funding opportunities for this acquisition Santander were the only bank who immediately understood our business and what we were looking to achieve. Throughout the acquisition they worked with us and our advisors to ensure the process was efficient and focussed and that the final funding package was a great fit to the seasonality and growth profile of the group. A very positive experience and Santander will be our first port of call for the next one!”
Roddy Kilpatrick, Director, Structured Finance, Santander, commented:
"We're delighted to support the ambitious team at Altia Solutions in providing growth capital funding to support the ABM acquisition. The transaction brings two highly complementary software businesses together and we're proud to play an important role in Altia’s exciting growth strategy."
Altia Solutions Ltd provide a range of investigations software to most of the UK’s police forces as well as other financial crime investigators in the UK and abroad. The company is based in Glasgow with 19 employees and a training centre in Milton Keynes.
Altia’s products assist police investigators in solving and recovering the proceeds of financial crime more efficiently as well as improving the detail and quality of court evidence. As well as serving UK police forces and Government departments, its products are also being used by the Canadian and Australian police and tax authorities.
Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.
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