Return to search

3i exits Stiell

Facilities management specialist, Stiell has been acquired by UK infrastructure services group, Alfred McAlpine for GBP85 million. 3i has more than doubled its original commitment to the company, generating a return of GBP19 million.

3i invested GBP9 million in the company in April 2000. The firm also provided a GBP10 million acquisition fund, although Stiell did not use this.

Following the acquisition, Stiell will make up approximately 15 per cent of the Alfred McAlpine business. Alfred McAlpine is committed to building an integrated support service business and does not currently have a facilities management business. Bill Allan, Stiell’s managing director, said: “This deal will provide significant investment opportunities for the business across the UK and as such, it will give us the impetus that we need to develop the type of business that we all aspire to.”

Stiell has confirmed that, as a result of the deal, there will be neither changes to any management teams nor any redundancies. Bill Allan will remain as managing director of Stiell Facilities and Doug More will continue as managing director of Stiell Networks.

Stiell has a turnover of around GBP100 million and has two main businesses Stiell Facilities, a provider of facilities management services to clients in the UK and Stiell Networks which designs, installs and maintains IT networks. Stiell Facilities accounts for around three-quarters of the business and has 1,000 staff. Clients include Abbey National, Bank of Scotland, Motorola and Nationwide Building Society. Stiell Network is a specialist IT network provider with some 200 staff including Barclays Stockbrokers, Capital Incentives and Standard Life.