London-based private equity investor expands north presence with IoT takeover
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 with offices in North Shields.
Livingbridge acquired the company from support services company Aliter and made the investment through its £ 1.2 billion Livingbridge 7 fund.
Livingbridge’s investment is expected to accelerate North’s growth plans, with a focus on regional expansion, strengthening its service lines such as IoT and 5G in critical and complex environments, and further building long-term partnerships with companies such as Aruba, Cisco and Nokia .
The news comes as North confirms it has expanded its own UK presence through the strategic acquisition of Data Techniques, a specialist in network infrastructure design, installation and support services.
Glen Williams, North Chief Executive, commented, “The past year has seen tremendous change and growth for North, bringing five companies together into one established player well positioned to capitalize on growth opportunities.
“The acquisition of Data Techniques shows our focus on building our customer base and the breadth of services through intelligent expansion and acquisitions.
“Aliter’s support and guidance has been invaluable. We now look forward to building on our success with Livingbridge, who recognized the potential of our business and have the expertise and knowledge that will help drive our business forward. “
Livingbridge’s Matthew Caffrey said, “We are excited to partner with North, a company with a unique breadth and depth of expertise in IoT, network and connectivity, and security and protection, with clear growth potential.
“We are excited to work with CEO Glen Williams and his seasoned management team to develop North’s strong capabilities and consolidate a fragmented industry through further mergers and acquisitions to better serve the fast-growing smart building and smart city market . “
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