Aliter agrees the sale of North
Aliter Capital LLP (“Aliter”), the private equity buy and build specialist in the support services sector, is pleased to announce that it has agreed the sale of its shareholding in North Group SP (“North” or “the Group”) to Livingbridge, one of the UK’s leading mid-market private equity investors. The management team will continue to work in North and will reinvest part of their proceeds in the Group.
The sale of North marks the first exit from Aliter’s maiden 2017 fund and delivers a strong
return for investors. North is a highly technical integrated technology specialist delivering end-to-end networking and IoT application design, implementation, support, and managed services throughout the UK. North prides itself on driving innovation and leading the industry in adoption of emerging technologies. Led by CEO, Glen Williams, North has over 270 staff, of which around 160 provide technical services.
Through the transformational acquisitions of both Boston Networks (2018) and Pinacl (2019), Aliter combined five businesses in total and partnered with North’s management team to support the Group’s continued development against the backdrop of a global, high-growth market for intelligent integrated technology solutions that improve the performance and safety of people, organisations and places.
Glen Williams, CEO of North, said: “The last year has seen tremendous change and growth for North and saw five businesses brought together to form an established player, well positioned to take advantage of growth opportunities. Aliter’s support and guidance has been invaluable. We are now looking forward to building on our success with Livingbridge who have recognised the potential of our business”.
Greig Brown, Founding Partner at Aliter Capital, commented: “North has been a fantastic journey for Aliter, providing a first-class example of our buy and build approach and delivers a great result for investors with our first exit from Fund I. We started the North journey in 2018, successfully integrating five businesses over the period to create a major player within the UK IOT and network connectivity space. It has been a pleasure working alongside such a high-quality management team. We have no doubt North will continue to prosper and wish the team and Livingbridge every success in the years ahead”.
About Aliter (www.alitercap.com)
Aliter Capital LLP is a specialist UK support services investor which announced the close of its specialist support services fund (Aliter Capital I, LP) in February 2017. Aliter was founded by a group of seasoned support services entrepreneurs and investors – Billy Allan, Greig Brown, Andrew Busby and Andy Galloway – and focuses on small and mid-sized businesses in the UK support services sector, a market valued at over £300 billion. Its approach differs from traditional private equity models by making only a limited number of selective portfolio
investments to deliver dedicated hands-on support. Aliter has now closed a total of 21 transactions since the beginning of 2017.