Energize takes stake in research firm

WARRINGTON’S Energize Capital has taken a minority stake in a Manchester-based market research firm, Alterline.

It is the eighth investment by Energize, the private equity business founded by former Ford Campbell partner Jeremy Carr.

Alterline, which has 10 staff, was set up in 2011 by Nick Carley and Ben Hickman.

It had sales of £300,000 in its first year but management say they are on course for £1m this year. The scale of the investment was not disclosed.

The company is developing technology-driven products that will allow small businesses to collect and analyse data about their customers. The products are currently being market-tested prior to a UK launch.

Mr Carley said: “We have combined with Energize because they will be a great strategic partner providing the challenge, advice, and investment we require as we grow both organically and through acquisitions. We hope that this will enable us to build a more profitable business with greater scalability more quickly.”

Mr Carr, Energize’s managing director, said: “It is an exciting time to invest in the business and the team have a very aggressive business plan that includes strategic acquisitions to allow it to offer an integrated business and strategic planning service to clients with research at its centre.”