Horizon-backed Wireless Innovation completes two bolt-ons

Rock Seven and YB Tracking provide connectivity hardware that allows customers to track assets in remote and hazardous locations.

Wireless Innovation said the acquisitions would allow it to scale its operations and improve its technical ability. Meanwhile, Rock Seven said Horizon's backing would allow it to continue its innovation expansion in a rapidly growing market.

Wireless Innovation was acquired by Horizon – formerly Lyceum Capital – in a 2017 buyout. Horizon this week announced it had closed a new £200m fund, which it aims to invest in UK-headquartered technology businesses.

Founded in 2004 and headquartered in Churcham, Gloucestershire, Wireless Innovation is a satellite- and cellular-based machine-to-machine communications business. It focuses on communications for remote areas and serves clients in the oil & gas, aviation, marine, renewables, electricity, water and telematics industries. Its customers include EDF Energy, Iberdrola and Scottish Water.

Company
Rock Seven was founded in 2005 and is headquartered in Whiteley, Hampshire. It makes satellite tracking systems for a range of clients, including government, military and NGOs.

YB Tracking is also based in Whiteley and was founded in 2014. Its products include the YB3, a handheld tracking device and the YB3i for fixing to a boat or vehicle.

Advisers
Equity – Deloitte (corporate finance); Dow Schofield Watts (financial due diligence); Latitude Consulting (commercial due diligence); Harrison Clark Rickerbys (legal); Forward Corporate Finance (corporate finance).

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• Topics
• Expansion
• UK / Ireland
• Industrials
• Horizon Capital (formerly Lyceum Capital)
• United Kingdom
• Build-up