ALKU to Receive Majority Investment from New Mountain Capital

ANDOVER, Mass., April 25, 2023 /PRNewswire/ — ALKU, a leading specialty staffing firm, today announces a new majority investment from New Mountain Capital, a leading growth-oriented investment firm. Reinvesting alongside New Mountain are FFL Partners, WestView Capital Partners, ALKU Founder & CEO, Mark Eldridge, as well as ALKU management. The investment, which is expected to close in May, marks a major milestone for ALKU, which is projected to exceed $1 billion in revenue over the next few years.

"This partnership supports the entrepreneurial spirit of ALKU and its employees, strengthening our growth path with the expertise of our partners," said ALKU Founder & CEO, Mark Eldridge. "New Mountain's experience in human capital management, life sciences, and our other key markets will enable us to draw on a deep network of contacts and knowledge that will support our continued industry-leading growth. We are thrilled that our current partners have decided to reinvest with us, and this continuity will allow for continued execution of the strategies that have worked so well."

ALKU was founded in 2008 and has quickly become an industry leader, having achieved close to $600 million in revenue and best-in-class organic growth of approximately 30% annually since 2013. New Mountain's investment will support ALKU's continued growth, benefiting ALKU employees with opportunities for career development, promotions, and equity ownership.

"Our investment in ALKU is the result of New Mountain's long-standing effort around the Future of Work and companies that help their clients identify, attract, develop, and retain the talent needed to succeed. Mark and the ALKU leadership team have built a true market-leader that provides highly specialized, expert talent for critical enterprise initiatives in the talent constrained areas of life sciences, enterprise cloud technology, data science and cybersecurity," said Lars Johansson, Managing Director at New Mountain Capital.

Partnering alongside New Mountain is existing majority investor, FFL Partners, as well as WestView Capital Partners, which will be making its third investment in ALKU.

“Mark and his team have built the most differentiated high-end, specialty staffing firm in the country, and we've been proud to support them over the last four years," said Cas Schneller, Managing Partner of FFL Partners. "ALKU has tremendous growth potential, and we are excited to welcome New Mountain as a new partner for this next chapter.“

ALKU and its existing investors were advised by William Blair as the exclusive financial advisor and Kirkland & Ellis, Latham & Watkins, and Blank Rome as legal counsel. Ropes & Gray served as legal counsel to New Mountain Capital.

About ALKU
ALKU is the leading contingent staffing firm focused on deploying highly-skilled, specialized consulting resources in the areas of enterprise technology, life sciences, data science, cybersecurity, and government. ALKU is consistently ranked on prestigious 'Best Places to Work' lists across the country and has a 15+ year track record of training and developing talent. Given ALKU's unique culture, focus on training and development, and highly-specialized, division-led operating model, ALKU has grown at an industry-leading pace since its founding in 2008.

About New Mountain Capital
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit, and net lease real estate funds with over $37 billion in assets under management. New Mountain seeks out what it believes to be the highest quality leaders in carefully selected "defensive growth" industry sectors and works intensively with management to build the value of these companies. Additional information about New Mountain Capital is available at www.newmountaincapital.com.

Source: PR Newswire, ALKU to Receive Majority Investment from New Mountain Capital