London private equity investor expands Northern presence with IoT acquisition
A London-based private equity specialist has expanded its reach across the country with its latest acquisition.
Livingbridge has acquired Internet of Things (IoT) specialist North, which has offices in North Shields.
Livingbridge acquired the firm from support services firm Aliter, making the investment through its £1.2bn Livingbridge 7 fund.
It is expected that Livingbridge’s investment will accelerate North’s growth plans, focusing on regional expansion, strengthening its service lines such as IoT and 5G within critical and complex environments and continuing to build long-term partnerships with the likes of Aruba, Cisco and Nokia.
The news comes as North confirms it has expanded its own UK footprint with the strategic acquisition of Data Techniques, a specialist in network infrastructure design, installation and support services.
Glen Williams, chief executive for North, commented: “The last 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.
“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 are now looking 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.”
Matthew Caffrey at Livingbridge, said: “We are delighted to be partnering with North, a business with a unique breadth and depth of expertise across the IoT, networking and connectivity, and safety and security, and with a clear potential for growth.
“We are excited to work with CEO 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.”
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular North East morning email for free.