NEW PRIVATE EQUITY OWNER FOR SMART CONNECTIVITY PLATFORM PROVIDER
A smart connectivity platform provider headquartered in Berkshire is to be acquired by Montagu Private Equity from CVC Capital Partners.
Wireless Logic was established in the UK in 2000 and provides businesses with specialist Internet of Things (IoT) and Machine-to-Machine (M2M) platform services across mobile, satellite, low-power wireless, and fixed line networks.
The company's services enable smart connectivity for applications and devices, creating two-way communication across secure private networks.
Today, Wireless Logic has in excess of 2,500 customers and more than 3.1 million subscriptions. Headquartered in Hurley, Berkshire, the company operates across Europe with country offices in the UK, Denmark, France, Germany and Spain.
The sale represents the first exit for CVC's Growth Fund.
During the CVC Growth Fund’s period of investment, Wireless Logic has continued its organic growth trajectory, supplemented by several strategic acquisitions.
Montagu intends to work with the management team to continue to drive growth, leveraging Montagu's experience, network and resources to further strengthen the business.
Oliver Tucker, co-founder and group chief executive of Wireless Logic, said: "We are delighted to welcome Montagu into the Wireless Logic Group.
"Under the stewardship of the CVC Growth Fund, we have continued our double-digit organic growth which has been complemented by four acquisitions in the UK, Germany and Denmark, with each introducing key new technologies and skillsets into the group business.
"As we thank CVC for its partnership and counsel, the group board is looking forward to a bright, ambitious and exciting future with Montagu as we set about continuing our strategy to make Wireless Logic Group into a truly world-class platform offering."
The company and the CVC Growth Fund were advised by William Blair, Fried Frank, Deloitte and OC&C.
Montagu was advised by Arma Partners, Morgan Stanley and Freshfields.
Arma Partners, an M&A advisory firm focused exclusively on the communications, media and technology sector, had previously advised Wireless Logic on its sale to CVC in 2015.
Wireless Logic was established in the UK in 2000 and provides businesses with specialist Internet of Things (IoT) and Machine-to-Machine (M2M) platform services across mobile, satellite, low-power wireless, and fixed line networks.
The company's services enable smart connectivity for applications and devices, creating two-way communication across secure private networks.
Today, Wireless Logic has in excess of 2,500 customers and more than 3.1 million subscriptions. Headquartered in Hurley, Berkshire, the company operates across Europe with country offices in the UK, Denmark, France, Germany and Spain.
The sale represents the first exit for CVC's Growth Fund.
During the CVC Growth Fund’s period of investment, Wireless Logic has continued its organic growth trajectory, supplemented by several strategic acquisitions.
Montagu intends to work with the management team to continue to drive growth, leveraging Montagu's experience, network and resources to further strengthen the business.
Oliver Tucker, co-founder and group chief executive of Wireless Logic, said: "We are delighted to welcome Montagu into the Wireless Logic Group.
"Under the stewardship of the CVC Growth Fund, we have continued our double-digit organic growth which has been complemented by four acquisitions in the UK, Germany and Denmark, with each introducing key new technologies and skillsets into the group business.
"As we thank CVC for its partnership and counsel, the group board is looking forward to a bright, ambitious and exciting future with Montagu as we set about continuing our strategy to make Wireless Logic Group into a truly world-class platform offering."
The company and the CVC Growth Fund were advised by William Blair, Fried Frank, Deloitte and OC&C.
Montagu was advised by Arma Partners, Morgan Stanley and Freshfields.
Arma Partners, an M&A advisory firm focused exclusively on the communications, media and technology sector, had previously advised Wireless Logic on its sale to CVC in 2015.
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