Souter and Averna invest in student recruitment firm SI-UK

The investment has been made via the Averna Investco III fund.

  • SI-UK’s founders remain significant shareholders and will continue to lead the company
  • The capital injection will position SI-UK for further growth and will support the company in its further internationalisation
  • SI-UK is Souter Investments’ second investment with Averna, following the acquisition of Climate Care and Natural Capital Partners, which merged to form Climate Impact Partners

Souter Investments and Averna Capital have partnered for the second time, completing an investment in student recruitment company, SI-UK. The company sources international students for UK higher education institutions. SI-UK guides students throughout the university application and selection process via a network of 80 offices across 40 countries.

The investment has been made via Averna Investco III. It will provide SI-UK with a platform for growth and support the company in continuing its internationalisation as well as developing its data and technology capabilities.

Souter Investments has invested over $600 million in more than 70 unquoted companies and has significant investments in over 30 businesses.

Averna Capital is a mid-market European private equity firm. It has a target enterprise value of $261 million and targets equity investments of $40 million to $60 million with capacity for more.

The investment in SI-UK is the second time Souter and Averna have partnered following the acquisition of carbon market specialists Climate Care and Natural Capital Partners, which merged to create Climate Impact Partners. Souter also recently completed an investment in cloud-based call analytics software as a service (SaaS) provider, Akixi, alongside Axiom Equity.

“It is great to be able to partner again with Averna Capital and invest in another exciting, fast-growing and market leading international business,” said John Berthinussen, managing director at Souter Investments.

“We are delighted to partner with SI-UK during its next phase of growth,” said Averna’s Stephen Green. “The business offers an indispensable bridge between universities and students, and we are impressed with the company’s international footprint built across multiple source markets.”

“We believe there is significant potential to grow further, and we are excited to continue our journey,” said SI-UK co-founder and managing director Dwayne Gallagher.

SI-UK’s founders remain significant shareholders and will continue to lead the company.