Wireless Logic, a leading global Internet of Things (IoT) connectivity platform provider, has today announced the completion of a re-capitalisation of its business. The transaction has seen Wireless Logic's majority shareholder, Montagu Private Equity and the company's Management, buy out CVC Growth Partners' minority stake in the business.
This marks an exciting new era for Wireless Logic, following the company's impressive organic growth and seven acquisitions since Montagu first invested in the business in July 2018. In the last five months alone, Wireless Logic has completed four separate acquisitions across Europe: Arkessa, Com4, Datamobile and New Line. As demand for IoT solutions increases on a global scale, Wireless Logic has continued to increase its geographical reach, establish new routes to market, build critical strategic partnerships and drive technological advantage across new services such as 5G, LPWAN and eSIM.
Whilst this brings to an end a highly successful investment partnership with CVC, the continued investment from Montagu is a strong testament to Wireless Logic's growth potential and the impressive performance from the management team and staff over the last three years.
Oliver Tucker, CEO at Wireless Logic, says: "This is a landmark achievement for Wireless Logic. I'm hugely proud of the team for delivering on our objectives over the last three years during which time Wireless Logic became one of approximately 70 unicorn companies in Europe. The continued investment from Montagu is a strong indicator of the trust and confidence that they have in our (increasingly global) business and our continued potential for growth. We have built a strong and differentiated offering from which to continue to serve the needs of customers as the market and technologies evolve."
Ed Shuckburgh, Director at Montagu, said "We are thrilled to be continuing our partnership with Oliver and the team who have built Europe's leading IoT connectivity platform provider, which is uniquely positioned to address the rapidly growing demand for smart connectivity solutions. We'd like to thank CVC who have been valued partners to us and the team."
Speaking on the successful partnership, Aaron Dupuis, Partner at CVC Capital Partners, comments: "Over the last six plus years, Wireless Logic has continued its impressive growth trajectory and supplementary strategic acquisitions. I am confident the company will continue creating unrivalled opportunities for new and innovative IoT solutions. I'm proud of what has been achieved during our involvement with the business and it has been a pleasure working with the management team over the years and more recently Montagu as well. We wish Wireless Logic all the best for the future."