Montagu to acquire Wireless Logic from CVC Growth Fund

27.06.2018

Montagu, a leading European private equity firm, and CVC Capital Partners today announce that they have reached an agreement for Montagu to acquire Wireless Logic Group, Europe’s leading smart connectivity platform provider, from CVC’s Growth Fund. The Wireless Logic sale represents the first exit for CVC’s Growth Fund. The terms of the transaction were not disclosed.

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. The platform gives organisations of all sizes the ability to access highly complex and secure IT infrastructure with zero capital cost, thus creating unrivaled opportunities for new and innovative IoT solutions.

Today, Wireless Logic is a market leader in IoT and M2M platform managed services in Europe, with over 2,500 customers and over 3.1 million subscriptions. It has the technology, scale, and geographical breadth to provide comprehensive connectivity solutions to a large number of customers and applications across Europe with a global reach. Headquartered in Hurley, Berkshire, the company operates across Europe with country offices in the UK, Denmark, France, Germany and Spain.

During the CVC Growth Fund’s period of investment, Wireless Logic has continued its impressive 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.

We are delighted to welcome Montagu into the Wireless Logic Group.

Oliver Tucker, Co-founder and Group CEO, Wireless Logic

“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.”

Oliver Tucker, Co-founder and Group CEO, Wireless Logic

We are highly impressed by the quality and achievements of the management team, who have founded and developed the business to become Europe’s leading M2M and IoT connectivity platform provider in under 20 years.

Ed Shuckburgh, Director, Montagu

We have had a tremendous partnership with Oliver and his team.

Aaron Dupuis, Senior Managing Director, CVC

“We have been proud to be part of the continued success of Wireless Logic and wish the team all the best as they embark on the next phase of the journey.”

Aaron Dupuis, Senior Managing Director, CVC

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.