Glasgow-based Boston Networks, an integrated technologies specialist that works across IT network infrastructure, with a focus on fire, security and smart building systems has secured investment from specialist investor Aliter Capital 1 LP, which focuses on small to mid-size UK support services businesses.
The business was founded in 2000 and employs around 90 staff.
Aliter will use its deep industrial expertise and broad networks to drive both the organic and acquisitive growth of Boston Networks so that it can gain scale and a national footprint. The goal is to develop a group of fire, security and data networking companies with national coverage and a diversified blue-chip customer base; and the Company will be actively looking to make bolt on acquisitions of complementary businesses.
CEO Scott McEwan will continue to lead the management team and will also retain a shareholding. Aliter Partner Greig Brown has been appointed Chairman of the Company and will be joined on the Board by Aliter Managing Partner Billy Allan.
Scott McEwan, CEO of Boston Networks, commented: “Choosing Aliter as our investment partner was an easy decision. I have been aware of the Aliter team and their track record for a number of years, so having the opportunity to work closely with them on the next stage of Boston Networks’ development is exciting. It was clear from the start that their network and experience will add significant value to the business, supporting transformational growth and the development of additional solutions for our customers. The fact that Aliter truly understands our market and how our business operates will be of major importance going forward.”
Greig Brown, Partner of Aliter Capital, commented; “Boston Networks is a fantastic example of the type of business and management team that Aliter is looking to back and where we can use our sector expertise to support transformational growth. We have a strong track record of developing regional businesses and see clear potential to support this business both organically and through bolt-on acquisitions.”
Aliter Capital 1 was founded in 2016 by a group of seasoned support services entrepreneurs and investors Billy Allan, Greig Brown, Andy Galloway and Andrew Busby. Aliter is one of the first funds of its kind and is focussed on small and mid-sized businesses in the UK support services sector, a market now valued at over £300 billion. Its approach differs from traditional private equity models by making only a limited number of selective portfolio investments to deliver dedicated hands-on support. Aliter is based in London and Glasgow and makes investments across the UK.
Boston Networks is the third company to join Aliter’s portfolio of fast growing UK support services businesses. The Fund has backed two additional platform acquisitions and three bolt on acquisitions by portfolio companies since its launch twelve months ago.