Apax Global Alpha Ltd - closed-ended investment company providing access to the private equity funds of investment adviser Apax Partners LLP - Will invest €12 million on a look-through basis in the New York-based provider of safety services Altus Fire & Life Safety. The investment will be via the Apax XI fund. ‘The investment in Altus draws on the Apax funds’ experience in the services density-based business models vertical from previous investments such as [Safety-Kleen Systems Inc] and SavATree [LLC]. The investment thesis is to support Altus’ growth by investing in sales and marketing, increasing recurring service revenue and expanding geographically,’ Apax Global Alpha says.

Current stock price: 144.12 pence

12-month change: down 14%

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