Derbyshire-headquartered Alliance Transport Technologies (ATT) has attracted funding from the growth capital investor, BGF.
Alliance has pioneered the use of remanufacturing electronic components to allow commercial vehicle operators to decarbonise the maintenance of their fleets. Over the last few years, ATT has extended this expertise into Hybrid Electric Battery Technology.
Using ATTs capabilities, UK bus, coach and commercial vehicle operators are now able to significantly expand the life of the Hybrid Batteries, delivering them both cost savings, reducing their carbon footprint and levels of e-waste.
As a result, ATT has won long term service contracts to manage EV batteries with five of the largest UK National Bus Groups.
BGF’s investment will enable ATT to accelerate investment in R&D, with the opening of a new R&D centre near Coventry, and deliver ambitious expansion plans supporting fleet managers with innovative solutions to support resource efficiency, decarbonisation, and the move to EV & hydrogen over the next decade.
ATT’s growth objectives are underpinned by strong market dynamics driven by the increasing demand for remanufactured solutions as the green and circular economy agendas continue to accelerate.
Commenting on the deal, ATT CEO Ivan Gunatilleke said: “The last few years have been tough for all of us both personally and professionally. It is great to see the efforts of the entire ATT rewarded by the BGF investment. This is massive vote of confidence in a team that is committed to making a real difference.
“As a business, we’ve been growing steadily and have established ourselves as the first port of call for sustainable aftermarket solutions for our customers. ATT’s reputation has been built on our uncompromising approach to quality and a dedication to partnering with our customers to provide them with a solution that works best for them.
“The urgent need to meet carbon reduction goals and support government targets around the transition from diesel vehicles provides a significant opportunity for growth. BGFs backing means we can continue to invest heavily in the things that will make a real difference going forward. Not only research and development but also investing significantly into developing the entire ATT team and the value proposition that we can give our customers.”
The deal was led by BGF investors Aaron Baker and Elena Kovalikhina. Aaron Baker has also joined the Board as BGF director.
Thierry Bouzac has also joined the board as non-executive chairman (NXC), bringing significant experience from both the aftermarket and services sector. His appointment follows an introduction by BGF’s Talent Network.
Aaron Baker, investor at BGF, said: “In ATT, we are backing an enthusiastic and talented management team with a market-leading offering that’s helping customers reduce emissions and increase resource efficiency. In a critical year for energy transition, ATT offers cost, service and ESG benefits to customers, and is an early mover in fleet management support for hybrid and electric vehicles. We’re looking forward to supporting ATT building on the success it has had to date.”
The advisors to the transaction were Browne Jacobson (legal), Navigo (FDD), BDO (tax) for BGF and Clarkslegal (legal) for the company.
