William Blair acted as the exclusive financial advisor to Wireless Logic Group and CVC Capital Partners (“CVC”) in connection with its pending sale to Montagu Private Equity. The sale of Wireless Logic represents the first exit for CVC’s Growth Fund. The transaction was signed on June 19, 2018, and is expected to close in July 2018.
Transaction Highlights
- Deep relationships and sector experience: CVC and Wireless Logic were attracted to William Blair’s extensive sector knowledge and relevant experience within the machine-to-machine (M2M) and Internet of Things (IoT) sector, having previously advised on the sale of two highly relevant companies, Wyless and RacoWireless, both to KORE Wireless Group.
- Global execution excellence: William Blair managed a highly competitive pre-emptive process driving an exceptional outcome for all shareholders. William Blair provided an integrated, cross-border team, consisting of senior resources in Europe and North America to deliver transaction advice, deep sector knowledge, and execution support to Wireless Logic and CVC.
- Trusted guidance: William Blair’s transaction team was integrally involved throughout the transaction process, providing guidance on strategy, coordinating an efficient due diligence process, and negotiating favorable sale terms for CVC and Wireless Logic.
About the Companies
Wireless Logic Group is the leading M2M and IoT platform for managed services in Europe, with over 2,500 customers and over 3.1 million subscriptions. The company delivers a one-stop solution combining secure infrastructure, resilient management platforms, and multiple network connectivity options with both local and global providers. The platform provides organisations of all sizes comprehensive connectivity solutions, thus creating unrivalled opportunities for new and innovative IoT solutions. During the CVC Growth Fund’s period of investment, Wireless Logic has continued its impressive organic growth trajectory, supplemented by several strategic acquisitions. Wireless Logic was established in 2000, and is based in the United Kingdom.
CVC Capital Partners is a leading private equity and investment advisory firm. Founded in 1981, CVC today has a network of 23 offices and over 420 employees throughout Europe, Asia, and the United States. To date, CVC has secured commitments of over $109 billion from some of the world's leading institutional investors across its private equity and credit strategies. CVC currently manages over $50 billion of assets.
Montagu Private Equity is one of Europe’s leading private equity firms and focuses on businesses based in Northern Europe. The firm has assets under management of more than €4 billion. Montagu invests in businesses that operate in stable markets across Europe with transaction values ranging from approximately €100 million to €1 billion.
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