United Technologies (UK) Limited (“UTL Group”) has acquired Digitec Security Limited with the assistance of EMC Corporate Finance, acting as Lead Adviser.
UTL Group is a Unified Communications and B2B Technology group founded in 1999 by brothers Tim and Steve Arnold. This latest acquisition expands UTL’s product and service portfolio to include Digitec’s security offering and at the same time opens up UTL’s existing products and service offerings to Digitec’s customers’.
The combined business will have a turnover in excess of £5m and create a number of additional positions within the company. The acquisition comes after the successful integration of Signus Communications in September 2019 and continues UTL’s buy-and-build growth strategy.
Tim Arnold, co-founder of UTL commented “the acquisition of Digitec enhances our existing product base, adding Fire Alarm and Emergency Lighting technology to our existing Security division. We are now able to offer to our clients a truly unified communications product portfolio incorporating data infrastructure, document management, print, voice communications and security.”
Michael Pay, EMC Corporate Finance continued “Tim and Steve have built a successful business in the MFD and managed print sector, which we know well, the strategy to expand in both geography and skill sets into the wider security and communications is exciting for both their own customers and staff. As always delivering on a deal is tricky and to do so in the current climate more so. We look forward to working with the both of them as they continue to seek opportunities.”
Steve Arnold, co-founder of UTL finished “Working with EMC over the past year to plan, identify and approach targets, as well as guiding us through funding and structuring scenarios has enabled us to jump ahead of the competition at a time when many are still facing huge uncertainty amid the current crisis”.
Michael Pay and Ryan Smith of EMC Corporate Finance advised UTL.Back to all news