Scottish private equity firm Aberdeen Asset Managers Growth Capital has sold portfolio company ID Support Services Holdings (IDSSH) to Penta Capital Partners for an undisclosed amount.
The sale has earned Aberdeen a 1.8x return, and an IRR of 61%, and the firm will continue to hold a nominal stake.
IDSSH is a Manchester-based outsourcing company in two parts: ID Technology, which employs 100 staff and specializes in electronic surveillance systems such as CCTV and intruder alarms; and GK Industrial, a provider of air conditioning and heating systems.
IDSS management, led by chairman Brian Dunn and chief executive David Metcalfe, alongside the Glasgow-headquartered Penta, are now looking to grow the business both organically and through acquisitions as it seeks to become a £100m turnover company.
In the year to 30 June 2008 IDSS has grown by 42% with revenues of £26.5m. During the year it has bought ID Intact Limited and GK Scotia.
Aberdeen backed an MBO by Dunn and Metcalfe in March 2007, investing £3m.