Glasgow-based Boston Networks has acquired another company playing a huge role in building Scotland's Internet of Things (IoT).
The deal with Pinacl Solutions and Pinacl GDA in North Wales was facilitated by private equity investor Aliter Capital LLP, set up by a group of entrepreneurs with deep knowledge of the UK support services sector. The deal size has not been disclosed.
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It creates a UK-wide organisation with a staff of over 300 and a turnover approaching £50 million.
The transaction establishes a major player with full design, installation, management and support capability across the areas of network infrastructure, smart buildings, IoT, physical security and life safety systems.
Boston Networks, set up in Glasgow in 2000, recently launched the pioneering £6 million 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 has 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 network infrastructures.
The enlarged leadership team will take responsibility for running the combined business. Both chief executives will remain in post and both businesses will continue to operate from their home bases in Glasgow and North Wales.
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. The combination of Boston Networks 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 four years and has an appetite to accelerate its growth further. We have been impressed with the Aliter approach and we know the Boston Networks business very well. The Pinacl management team are extremely excited with the prospects for the combined group through its wide range of capabilities.”
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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.
Aliter was founded by entrepreneurs and investors Billy Allan, Greig Brown, Andy Galloway and Andrew Busby.
