Aliter Capital acquires Pinacl Group with a £6m senior debt facility from Shawbrook Bank

30-Apr-2019

Shawbrook Bank has provided a portfolio company of private equity firm Aliter Capital LLP with a new £6m credit facility to fund a key acquisition and accelerate its plans to grow the Group into a leading provider of Fire, Security and Integrated Technologies to improve the performance, safety and security of buildings, campuses and cities.

Aliter used a new senior structured debt product from Shawbrook to purchase Pinacl Group, a provider of network infrastructure services and solutions to a broad range of corporate and government clients. 

Aliter is an existing client of Shawbrook, which provided the private equity firm with a £4.5m facility in July 2018 to support the acquisition by its portfolio company, Boston Networks, of PEL Services Limited and a more recent acquisition of 2020 Vision Systems Limited.

The senior structured debt facility from Shawbrook is typically made-up of two components – an amortising term loan and an interest-only element.  The product is designed to offer flexibility, simple management and an appropriate level of leverage to support acquisitions typically between £2m - £20m.

Aliter Capital was set up in 2016 to invest in small-and-medium-sized firms in the UK’s support services sector. It purchased Boston Networks, which was originally founded in 2000, in January 2017 and has since grown the firm’s headcount to over 250 employees with this latest acquisition. 

Andrew Busby, founding partner at Aliter Capital, says:

“As a business that is looking to expand through acquisition, finance is vital. But not only that, we need a bank that is easy to deal with, can work quickly and that has faith in what we are trying to achieve. Having worked with Shawbrook on two major deals in the past year, I can say it ticks all three of these boxes.

“We are delighted Shawbrook is willing to back us on our journey to become one of the leading firms in the Fire, Security and Integrated Technologies sector.”

Kelly Henney, relationship director at Shawbrook Bank, says:

“Andrew and the team at Aliter Capital are focussed on delivering a very exciting strategy, which we’re delighted to be supporting.  Knowing the team and having flexibility in our product range meant that we could move very quickly on this transaction.  In fact, it’s why 1 in 5 of the larger transactions we completed across our regional business centre network in 2018 were acquisitions.  For any sponsors and management teams working through a change in ownership, we’re here to help.”