By Kristy Dorsey
Expanding IoT services provider North has been acquired by private equity group Livingbridge in a deal that has also seen North take over a network infrastructure company to extend its presence in the south-east of England.
Created last year through the consolidation of Scottish-based Boston Networks with four other IT firms, North employs 270 people across offices in Glasgow, North Shields, Birmingham, Wales and London. Brought together by Aliter Capital, which took a majority stake in Boston Networks in 2018, North was created to drive regional expansion in its sector.
The investment has come via the £1.2 billion Livingbridge 7 fund. Matthew Caffrey of Livingbridge said the group was “delighted” to be partnering with North.
“We are excited to work with [chief executive] Glen Williams and his experienced management team to develop North’s strong capabilities and consolidate a fragmented industry through further M&A to better service the rapidly-growing intelligent buildings and smart cities market,” he said.
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North is taking over Data Techniques, which has 90 employees across offices in Camberley, Southampton and Basingstoke. Mr Williams said the deal will allow North to operate a network of engineers covering the design, build, maintenance and monitoring of IoT solutions.
“This year has seen tremendous change and growth for North and saw five businesses brought together to form an established player, well-positioned to take advantage of growth opportunities,” he said. “The acquisition of Data Techniques demonstrates our focus on building our client base and breadth of services through smart expansion and acquisitions.
"Aliter’s support and guidance has been invaluable. We now look forward to building on our success with Livingbridge who have recognised the potential of our business and have the expertise and knowledge that will help to drive our business forward.”
Nick Crosby of Data Techniques added: “It has been clear since we began discussions with North that our businesses share many synergies, including a commitment to providing a high quality of service to our broad customer base. We are excited to join the North business and look forward to a period of accelerated growth over the coming years.”
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