Sixth support services transaction in twelve months since Aliter launched its fund
Aliter Capital I LP (“Aliter”), the specialist investor focused on small to mid-size UK support services businesses, has announced the completion of its investment in Boston Networks, through the formation of a topco. Boston Networks is an integrated technologies specialist, working across IT network infrastructure, with a focus on fire, security and smart building systems. The value of the transaction was not disclosed.
This investment establishes a third platform and is the sixth transaction that Aliter has made since launching its specialist fund dedicated to investing in the support services sector just twelve months ago, including two other platform investments and three bolt-on acquisitions to its portfolio companies. Recent platform investments include technical services group Edwin James Holdings and asset management services group, Ipsum Group, which operates within the UK utilities and Infrastructure market.
Boston Networks is headquartered in Glasgow and has a blue-chip customer base through strategic partnerships with world leading manufacturers providing services to both private and public sector customers, predominantly in Scotland and the North of England. The business was founded in 2000 and employs c.90 staff. Boston Networks has shown robust levels of growth year on year since incorporation. The business is a UK leader in the design, installation and support of high-performance, future proof technology to connect and secure people, buildings and devices.
Aliter will use its deep industrial expertise and broad networks to drive both the organic and acquisitive growth of the business so that it can gain scale and a national footprint. Aliter is focused on developing a group of fire, security and data networking companies with national coverage and a diversified blue-chip customer base and will be actively looking to acquire growing businesses as bolt-ons to the platform business.
The senior management team at Boston Networks led by Scott McEwan (CEO, will continue to manage the business, with Scott McEwan also retaining a shareholding. Aliter Partner Greig Brown has been appointed Chairman of the business and will be joined on the board by Aliter Managing Partner Billy Allan.
Greig Brown, partner of Aliter commented: “Boston Networks is a fantastic example of the type of business and management team that we are looking to back and where we can use our sector expertise to support transformational growth. We have a strong track record of developing regional businesses and see clear potential to support this business both organically and through bolt-on acquisitions. We are delighted to have completed our sixth deal in just twelve months and are seeing significant momentum in our fund, as well as a strong pipeline of investment opportunities.”
Scott McEwan, CEO of Boston Networks commented: “Choosing Aliter as our investment partner was an easy decision. I have been aware of the Aliter team and their track record for a number of years, so having the opportunity to work closely with them on the next stage of Boston Networks’ development is exciting. It was clear from the start that their network and experience will add significant value to the business, supporting transformational growth and the development of additional solutions for our customers. The fact that Aliter truly understands our market and how our business operates will be of major importance going forward.”