Horizon-backed Wireless Innovation bolts on Ground Control

The transaction comes 22 months after Horizon – then known as Lyceum Capital – acquired Wireless Innovation, and seven months after the portfolio company acquired Rock Seven Mobile Services and YB Tracking.

According to a statement, the consolidated group will have a turnover of £28m, up from £8m at the time of Horizon's initial investment. The transaction is intended to expand the group's international reach, particularly in the US market.

Company
Founded in 2002 and headquartered in Atascadero, California, Ground Control provides Internet-of-Things and mobile-to-mobile connectivity, in addition to related hardware, to corporate and government clients.

People
Horizon Capital – Luke Kingston (partner).
Wireless Innovation – Phil Rouse (CEO).
Ground Control Systems – Jeff Staples (CEO).

Advisers
Company (Wireless Innovation) – Deloitte (corporate finance); PwC (financial due diligence); OC&C (management due diligence); Deauville Partners (political due diligence); Locke Lord (legal); Forward Corporate Finance (corporate finance).

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