An investment firm has seen a Glasgow-based IT provider in which it owns a majority stake acquire a Welsh player to create a UK-wide organisation with more than 300 staff.
Aliter Capital has fused Scotland’s Boston Networks with Pinacl Solutions and Pinacl GDA based in North Wales to create a “major player” with turnover approaching £50 million, and full design, installation, management and support capability across network infrastructure, smart buildings, Internet of Things (IoT), physical security and life safety systems. Terms of the deal were not disclosed and the now-enlarged leadership team will take responsibility for running the combined business. Both chief executives remain in post and both companies continue to operate from their current bases.
Boston Networks recently launched the £6m IoT Scotland, after being chosen to lead the commercialisation of IoT across Scotland – a project part-funded by the Scottish Government.
Also making headway in that market is Pinacl, whose roots stretch back 35-plus years.
Greig Brown, partner of Aliter and chairman of Boston Networks, said: “Since our investment into Boston Networks, we have been extremely focused on creating a national provider that has major credibility across the networking and systems integration market.”
Scott McEwan, chief executive of Boston Networks, said: “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.”
Audit, tax and consulting firm RSM advised Pinacl on the deal. Rikesh Patel, associate director at RSM, said: “The increased service offering and capability supports the commercial aims of both businesses, which provides the perfect platform to maximise the opportunities in this buoyant sector.”