News

Welsh firm secures £3.75m backing following management buyout

15 Sep 2026 3 minute read

Steve Lanigan; Joanna Thomas, Development Bank of Wales; Gavin Payne; Phil Tromans, Chief Executive, ALS Managed Services

Nation.Cymru staff

A workforce services company which has grown its turnover from £13.3m to more than £60m has completed its second management buyout with £3.75m of financial backing.

Caerphilly-based ALS Managed Services, which trades as ALS People, has secured the investment from the Development Bank of Wales as it looks to expand its operations across the UK.

The company supplies and manages temporary workers for businesses in sectors including recycling, warehousing, distribution and manufacturing.

Chief executive Phil Tromans is leading the latest buyout, which follows an earlier management takeover supported by the Development Bank in 2018.

Since then, ALS says its turnover has risen from £13.3m to more than £60m, while the number of staff employed by the company has doubled.

The 2018 deal saw Steve Lanigan and Gavin Payne buy out the company’s founding shareholders with the help of a £1m funding package, which included investment from the Development Bank.

The bank took a stake in ALS as part of that transaction, which was subsequently bought back by the company in 2021.

Recruitment industry veteran Phil McDonald will now become chairman of ALS following the latest change in ownership.

Mr Tromans said: “The investment strengthens our ability to deliver scalable, compliant and cost-efficient labour models for clients operating in high-volume and operationally complex environments.

“It gives us the platform to scale what we already do well – deliver reliable and compliant workforce solutions in some of the most operationally challenging sectors in the UK.

“We have built a strong track record since the previous buyout in 2018, and this investment allows us to deepen our partnerships with existing clients while expanding our managed service offering to new customers.”

He said the Development Bank had supported the company through different stages of its development, adding that the latest deal provided “stability, continuity and a strong platform to move ALS forward”.

Jo Thomas, deputy fund manager at the Development Bank of Wales, said: “ALS Managed Services is a strong example of how experienced management teams can drive long-term growth.

“Having successfully supported the business through the previous purchase, we are proud to support Phil and the team as they take ownership and lead the next step.”

Buyout

Steve Lanigan, who led the 2018 buyout alongside Mr Payne, said the company’s growth since then reflected the strength of its management team.

He said: “Using the Development Bank again to part-finance this transaction made sense given their understanding of the business and their long-term support of the management team.”

The £3.75m package includes funding from the Welsh Management Succession Fund and Welsh Flexible Investment Fund.

ALS was established in 2011 and is headquartered in Caerphilly. It now supports thousands of workers at sites across the UK.

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