Looking for funding? Subscribe to news
Shape

BGF backs Pinnacle’s acquisition of ADEPT4

Investment news
15.06.2016.

BGF has invested £5m in Pinnacle Technology Group plc (now ADEPT4), (PINN) an AIM-listed provider of ‘IT as a Service’. The funding will support the acquisition of Cheshire-headquartered ADEPT4.

Pinnacle provides ‘IT as a Service’ predominantly to small and mid-sized businesses. In the past four months, the company has acquired The Weston Group, a provider of business telecoms services and Ancar-B, an IT services company. Both businesses are headquartered in Yorkshire.

The acquisition of adept4, along with the integration of The Weston Group and Ancar-B, will add significant scale to the Group’s platform and services. adept4 provides fully managed support for cloud services, IT contracts, security, software development and more to around 60 customers. The business will continue to be managed by an experienced operational team, led by directors Peter Birkett, Paul Talbot and Steve Cosgrove. Following the acquisition, Pinnacle Trading Group will begin to rebrand and trade under the name of adept4.

The investment has been made by BGF Quoted, BGF’s specialist team focused on listed businesses. Previous investments in AIM-listed companies include Castleton Technology (CPT), Victoria (VCP) and Styles & Wood (STY).

Gavin Lyons, Executive Chairman of Pinnacle, commented: “Our focus is now on the integration of our three acquisitions so that we can scale our asset light, ‘IT as a Service’ proposition for UK SME business.

“We are delighted to have BGF on board as a strategic funding partner as we continue to focus on growing the company organically and through acquisition.”

Related Articles

June/2019 | North West

High-growth Extentia Group gets BGF backing

BGF has invested £10m of equity in Extentia Group, the property services business formed through the acquisitions of Styles & …

May/2019 | North West

Why the UK must remain ready for business

The real tragedy of Brexit is that it has monopolised attention and distracted from the health of the UK economy. …

November/2017 | Tech, Media & Digital

BGF backs Medigold Health

Medigold Health, a leading provider of occupational health and corporate wellbeing services, has received a £9.5m investment from BGF to …