Former investment director at Anchorage Capital Partners, Jesse Alderton, has successfully closed his first acquisition since departing from the buyout firm. Alderton’s new venture, Jump BidCo, has acquired the Australia and New Zealand operations of the technology equipment rental company Hire Intelligence. This strategic move marks a significant step in Alderton’s career as he transitions to an independent investment strategy.
The acquisition involves a corporate carve-out from Hire Intelligence International, which had been listed on the Australian Securities Exchange (ASX) until 2013. The company has been primarily owned by Tom Crage since 1996. Following this transaction, Hire Intelligence International will maintain its operations in the UK and Ireland, while Alderton and his co-investors, including senior local management, will oversee a business that caters to over 2,000 corporate and government clients.
While the exact value of the transaction remains undisclosed, industry sources suggest that the deal was valued at approximately $14 million. The financing for the acquisition was facilitated by private credit firm Longreach Credit Investors, with investment director Tim Hoskin playing a pivotal role in the arrangement.
Alderton left Anchorage in May 2023 to pursue a search fund strategy, which involves raising capital prior to identifying an acquisition target. His background includes experience as an investment banking associate at Deutsche Bank and a senior executive in KPMG’s corporate finance M&A team. During his tenure at Anchorage, Alderton contributed to significant investments, including David Jones, ELF Group, and GBST.
For this acquisition, Alderton received advisory support from leading law firms Corrs Chambers Westgarth and Gilbert + Tobin, while Clayton Utz, PKF, and Alvarez & Marsal assisted Longreach Credit Investors in the transaction.
As Alderton embarks on this new chapter, the acquisition of Hire Intelligence positions him to leverage his extensive experience in investment and corporate finance, paving the way for future growth and opportunities in the technology equipment rental sector.
