Boston Networks has completed the acquisition of PEL Services Limited as it accelerates its ambitious plans for UK growth.
The purchase of London-based PEL represents its first bolt-on acquisition in the drive to establish Boston Networks as a major UK group and a national provider of integrated life safety, security and networking services.
The combined group will employ 150 specialist staff, giving it the reach and capability to provide services to major public and private sector customers across the UK.
The deal is the first acquisition since the specialist investment fund Aliter Capital acquired a major stake in Boston Networks in January. Glasgow and London-based Aliter, which focuses on small to mid-size UK support services businesses, will work with Boston Networks to deliver organic growth and target further complementary bolt-on acquisitions.
Founded in 1976, PEL is an owner-managed, South-East based sound, fire, security and audio visual (AV) solutions company with a national coverage across a broad range of private and public-sector customers.
PEL provides design, installation, supply and maintenance solutions and its strong presence in London and the South East will contribute to Boston’s strategic plan to expand its national footprint.
The senior management team at PEL will continue to manage the business, working alongside Boston Networks CEO Scott McEwan.
Scott McEwan, Boston Networks CEO said:
“We look forward to leveraging PEL’s many years of experience of working in the sound, fire, security and audio-visual markets which will help us to drive towards the next phase of our growth. This acquisition will further deepen the services offered by Boston Networks as we continue to grow and focus on applying technology to improve the performance, safety and security of people, buildings and assets.”
Kenneth Faulks, PEL managing director and exiting shareholder, said
“I believe the partnership between PEL Services and Boston Networks, with the support of Aliter, gives the company a major platform for growth in the years ahead. Having worked alongside Aliter during the last few months, it gives me huge confidence that I am leaving PEL Services in great hands and with a clear strategy in place to ensure continued success.”
Greig Brown, Partner of Aliter Capital and Chairman of Boston Networks said:
“PEL Services is a great addition and excellent fit for the Boston Networks business. In addition to offering a complementary product offering and strong management team to Boston Networks, it is a significant step forward in our plan to create a national provider of integrated life safety, security and networking services.
Over the last few years, Boston Networks has completed a range of major contracts, including projects and services for the Queen Elizabeth University & Children’s Hospital, the 2014 Commonwealth Games and the 2014 Ryder Cup.