ECI Partners, a growth-focused mid-market private equity firm, has invested in the international critical communications service provider, CSL. The investment will support CSL to further enhance its offering to its customer base, investing in product innovation and ensuring the high-quality service levels it is known for as it expands.
CSL is a specialist in providing M2M and IoT connectivity solutions in the Fire, Security and Telehealth sectors. It has invested significantly in its core Fire & Security customer base over the last 24 years, with the latest DualCom Pro range providing simple and reliable alarm signalling for domestic, commercial and retail premises. The CSL Health range enables wireless telecare services for vulnerable residents.
The apps and portals used by customers offer real-time visibility, status updates and remote maintenance, with expert support teams available 24/7. CSL services over 1 million M2M/IoT devices and monitors 4 billion events through its platforms each month across the UK, Sweden, the Netherlands, Spain and Ireland.
CSL has grown both organically and through acquisition, having made four acquisitions since it was backed by ICONIQ Capital, Norland Capital and RIT Capital Partners in 2016.
ECI’s previous investments in the IoT and connectivity space include Wireless Logic, Send for Help and Arkessa.
Edward Heale, CEO, CSL, says: “We are delighted to be partnering with ECI, they know and understand our business and the sector in which we operate. This partnership will allow us to continue to invest in innovation and bring our secure, reliable and hassle-free critical connectivity solutions to a wider audience. We look forward to building on the investment of the last four years and will continue to expand into new international markets and enhance our product solutions for our customers.”
Paul McCreadie, Partner at ECI, says: “We have followed this business for several years and we are excited by the opportunity that CSL has in the IoT and M2M market to further strengthen its market-leading position both organically and through M&A. As an experienced IoT investor, we’re delighted to partner with Ed and the team to help CSL achieve its growth ambitions and look forward to supporting them over the next stage of its journey.”
