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Private equity firm makes majority investment in ALKU

July 30, 2019

Private equity firm FFL Partners made a majority investment in ALKU, a staffing firm based in Andover, Massachusetts, according to an announcement today.

“ALKU is fortunate to have found a partner in FFL that understands our business model, as well as our unique qualities and culture,” said Mark Eldridge, CEO of ALKU. “Together, with [existing investor] WestView, we will have input and strategy that will allow us to continue to grow at 4x the industry pace.”

ALKU, which has more than $200 million in revenue, ranks among the largest US staffing firms, according to a report out this week by Staffing Industry Analysts. Its growth story was among those featured in the book Breaking Through: Leadership Disciplines from Top Performing Staffing Firms, by Mike Cleland and SIA President Barry Asin.

While the size of the investment was not disclosed, FFL Partners has completed a majority investment in the firm. In addition, Eldridge and the ALKU’s leadership team have invested alongside FFL to retain a significant minority ownership stake in the business. WestView Capital Partners, a Boston-based private equity firm with an existing minority investment in ALKU, has also invested in the recapitalization.

The investment will enable ALKU to continue to expand and diversify its specialized service offerings in North America as well as provide resources to continue growth and make additional hires.

Founded in 2008, ALKU focuses on providing staffing in the areas of ERP, healthcare IT, life sciences, and government programs and information security.