CVC fully exits Wireless Logic

Montagu bought a majority stake in Wireless Logic from CVC in 2018. Management retained a minority stake in the business. The sale was the first exit for CVC's growth fund, CVC Capital Partners Growth Investors, which closed on $1bn in 2016.

The company has made seven acquisitions since the 2018 deal.

Previous funding
ECI acquired Wireless Logic in August 2011 for £38m. The firm invested via its ninth fund, which closed in December 2008 on £430m.

In 2015, CVC took over from ECI, which generated a return of 6.1x money on the sale. The deal was the first investment made by the CVC Growth fund, which was set up in 2014. The fund makes equity investments of $50-200m in North American and European software and technology-focused business services.

Company
Founded in 2000, Wireless Logic provides an Internet-of-Things and machine-to-machine platform 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.

Headquartered in Hurley, the company operates across Europe, with country offices in the UK, Denmark, France, Germany, the Netherlands and Spain. It also has an office in China.

People
Montagu Private Equity – Ed Shuckburgh (director).
CVC Capital Partners – Aaron Dupuis (partner).

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• Topics
• Exits
• Expansion
• UK / Ireland
• Technology
• CVC Capital Partners
• Montagu Private Equity