ALITER Capital, a private equity investment specialist in the support services industry, has said it has brought together two fast-growing companies in the sector.

Glasgow-headquartered Boston Networks has acquired Pinacl,which is based in North Wales, for an undisclosed sum.

Together, the firms, which will retain their bases and chief executive officers, will make up a UK-wide operation with a staff of over 300 and a turnover approaching £50 million.

It is claimed the transaction establishes the group as a major player with full design, installation, management and support capability across the areas of network infrastructure, smart buildings, Internet of Things, physical security and life safety systems.

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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’s recent contract wins include building intelligent street lighting for Aberdeen City Council, which uses the IoT technologies.

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.”

Aliter, with bases in Glasgow and London, acquired a majority stake in Boston Networks in January 2018.