Aliter-backed Boston Networks Acquires PEL Services
Second investment into the fire, security and integrated technologies sector
Aliter Capital backed Boston Networks, an integrated technologies specialist working across IT network infrastructure with a focus on fire, security and smart building systems has announced the completion of its first bolt-on acquisition, PEL Services Limited.
Founded in 1976, PEL is an owner managed, South-East based sound, fire, security and audio visual (AV) solutions company with a national coverage across a broad range of private and public-sector customers. PEL provides design, supply, installation and maintenance solutions across its range of services and contributes to the Group’s strategic plan by expanding the national footprint to include London and South East England.
The senior management team at PEL will continue to manage the business and work alongside Scott McEwan, CEO of Boston Networks. Aliter Capital will use its deep industrial expertise and broad networks to drive both the organic and acquisitive growth of the combined Group.
Aliter Capital is focused on developing a fire, security and IT networking group with national coverage and diversified blue-chip customer base and will be actively looking to acquire additional bolt on businesses to complement the Group.
Scott McEwan, Chief Executive of Boston Networks, commented: “We are delighted to welcome PEL Services to Boston Networks and look forward to leveraging their many years of experience of working in the sound, fire, security and audio visual markets to help us drive towards the next phase of our growth. This acquisition will further deepen the services offered by Boston Networks as we continue to grow and focus on applying technology to improve the performance, safety and security of people, buildings and assets.”
Kenneth Faulks, Managing Director and exiting shareholder said “I am delighted to see the partnership between PEL Services and Boston Networks producing such potential for our team. Having worked alongside Aliter during the last few months it gives me great confidence that I am leaving PEL Services in safe hands and with a clear strategy in place to ensure continued success.”
Greig Brown, Partner of Aliter Capital and Chairman of Boston Networks said: “PEL Services is a worthy addition and excellent fit for the Boston Networks’ business. In addition to presenting a complementary product offering and strong management team to Boston Networks, it is a significant step forward in our plan to create a national provider of integrated fire, security and networking services.
Aliter Capital announced the close of its specialist support services fund (Aliter Capital I,L.P) in February 2017. Founded by a group of seasoned support services entrepreneurs and investors – Billy Allan, Greig Brown, Andy Galloway and Andrew Busby – it is one of the first funds of its kind and is focused on small and mid-sized businesses in the UK support services sector, a market now valued at over GBP300 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 Capital is based in London and Glasgow.