Deal sees creation of UK-wide network infrastructure and integrated technologies business with leading edge IoT capability and global reach
Aliter Capital LLP (“Aliter”), the private equity investment specialist in the support services industry, has brought together two of the fastest-growing companies in the sector.
The combination of Glasgow headquartered Boston Networks, Pinacl Solutions and Pinacl GDA, headquartered in North Wales, will create a UK-wide organisation with a staff of over 300 and a turnover approaching £50m. The transaction establishes a major player with full design, installation, management and support capability across the areas of network infrastructure, smart buildings, Internet of Things (IoT) and life safety systems.
Boston Networks recently launched the pioneering £6m IoT Scotland, the UK’s most-advanced IoT network after being chosen to lead the commercialisation of IoT across Scotland – a project part-funded by the Scottish Government. Pinacl have also experienced significant success within this dynamic market, with recent wins including the building of a world leading intelligent street lighting solution for Aberdeen City Council utilising the latest IoT technologies.
Pinacl, a company with a heritage going back over 35 years and with many blue chip and local Government clients, has a specialisation in design and management of industry-leading ICT infrastructures encompassing the IoT, smart buildings and cities and major fibre optic infrastructures.
Greig Brown, Partner of Aliter and Chairman of Boston Networks said: “Since our investment into the Boston Group, we have been extremely focused on creating a national provider that has major credibility across the networking and systems integration market. The combination of Boston and Pinacl creates a leading business within the market and we look forward to working closely with the enlarged management team to create further success.”
Rob Bardwell, Pinacl CEO, said: “Pinacl has had impressive growth over the last 4 years and has an appetite to accelerate its growth further. We have been impressed with the Aliter approach and we know the Boston business very well. The Pinacl management team are extremely excited with the prospects for the combined group through its wide range of capabilities.”
Scott McEwan, Boston Networks CEO, said: “Pinacl is a business we have admired for many years. It is a sophisticated business and offers complementary technologies, customers and geographical coverage. It will be business as usual for the two companies and I’m looking forward to working with their senior team. Pinacl has been leading the IoT drive and the smart cities agenda in England and Wales as we have in Scotland and the synergies are obvious.”
The deal is the third involving Aliter since acquiring a majority stake in Boston Networks in January 2018 – the previous two being the acquisitions of London-based sound, life safety, security and audio visual (AV) solutions business PEL Services in April last year and North East based converged security and video surveillance business 2020 Vision Systems in December. Both acquisitions provide specialist integration of technologies across network infrastructures.
About Boston Networks: Founded in 2000, Boston Networks is a UK leader in the design, installation and support of high-performance IoT driven Smart Building, Smart Campus and Smart City solutions.
With a dedicated UK-based service offering to support its growing and diverse client base, Boston specialises in integrating and managing technology to improve the performance, safety and security of people, places and devices.
About Pinacl Solutions: Pinacl is a North Wales based provider of networking infrastructure services and solutions to the enterprise market and public sector organisations. As part of the transaction, Aliter will acquire Pinacl Holdings Limited trading as Pinacl Solutions and PGDA Group trading as Pinacl GDA. Pinacl Solutions offers a range of managed services and technology solutions to enable digital transformation and to shape smart places with a particular focus on IoT solutions for its clients. Pinacl GDA provides a single source IT project delivery solution for large, typically global organisations allowing localised management of worldwide technology roll outs. Pinacl GDA has established a network of IT project delivery specialists in key areas across the world. Together, Pinacl caters for a combination of blue-chip customers and local Government clients.
About Aliter Capital: Aliter announced the close of its specialist support services fund (Aliter Capital I, LP) 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 GBP 300 billion. Its approach differs from traditional private equity models by making only a limited number of selective portfolio investments to deliver.