Summit Group, venture capital investors who specialise in business to business services have been acquired by Arlington Group plc for £25 million (£5m in cash and £20m in new Arlington shares).

Summit's investment focus has been services related businesses, ranging from business-to-business and outsourcing services, to customer relationship management and marketing support services - principally for high tech companies. Its other investments include specialised finance and insurance as well as environmental technologies, property and facilities management services.

In a joint statement the two companies said their management skills and experience are complementary. Summit's management team has more than fifteen years' experience in starting and building new businesses and in managing the diverse range of activities in which they have operated, while Arlington is experienced in identifying investment opportunities in the high tech, software, new technology and media sectors.

Summit's management and consulting division, under MD David Wilson, has advised a number of corporates on non-core business operations, including Cable & Wireless. During 1998 it announced plans to build an FM group of companies before switching its focus to management advice. Arlington's investment may see this strategy revived.

Richard Byatt