Aliter's Boston acquires Pinacl

The GP provided additional equity funding to support the transaction, Unquote understands.

The deal is intended to create a consolidated group with a nationwide network and expertise in expanded Internet-of-Things (IoT), smart buildings and life safety systems. The business will also have a larger international client base, a headcount of around 300 and a turnover of almost £50m, according to a statement.

The bolt-on comes 15 months after Aliter announced its buyout of Boston, 12 months after it supported the bolt-on of sound, fire and security equipment provider PEL Services, and four months after Boston acquired security and video surveillance business 2020 Vision Systems.

Since the original buyout, the business has launched an IoT network in Scotland alongside the nation's devolved government, designed to increase commercialisation of the technology in the country. Pinacl has also recently won a contract with Aberdeen City Council for the use of its IoT services in its roll-out of smart street lighting.

Company
Headquartered in St Asaph, Denbighshire, Pinacl Holdings comprises Pinacl Solutions and Pinacl GDA. Pinacl Solutions provides services and infrastructure related to digital transformation and IoT. Pinacl GDA provides a platform that enables organisations to manage the roll-out of IT projects. The group primarily operates in the English and Welsh markets.

Pinacl Holdings generated an operating profit of £767,000 from a turnover of £17.2m in the year ending in March 2018, according to publicly available documents.

People
Aliter Capital – Greig Brown (partner).
Boston Networks – Scott McEwan (CEO).
Pinacl Holdings – Rob Bardwell (CEO).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Aliter Capital
• Build-up