CVC's Wireless Logic bolts on Mdex

The deal is Wireless Logic's fourth acquisition in the three years since CVC acquired the company in a secondary buyout from ECI Partners. It comes shortly after the group secured a £115m refinancing from a consortium of banks including SMBC, Park Square Capital and HSBC.

Financial details of the transaction remain undisclosed, though CVC said in a statement that Mdex will contribute EBITDA of €1.25m to the consolidated group in the 2018/19 financial year.

The GP is invested in Wireless Logic via CVC Growth Fund, which makes equity investments of $50-200m in north American and European software and technology-focused business services companies.

Company
Headquartered in Tangstedt and founded in 1997, Mdex is an IT business that provides encrypted Internet-of-Things and machine-to-machine networks to the energy, construction, automotive and industrials sectors.

People
Wireless Logic – Oliver Tucker (CEO).
Mdex – Sebastian Hilberg (CEO, joint managing director).

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