Montagu, a mid-market private equity firm, has closed a €2bn single-asset continuation vehicle to extend its partnership with Wireless Logic, an Internet of Things platform provider. The oversubscribed fund, which is the largest single-asset continuation vehicle completed in Europe this year, will be managed by Montagu, with TPG GP Solutions as lead investor and CVC Secondary Partners and Partners Group as co-leads.
Founded in 2000 and headquartered in the UK, Wireless Logic’s platform enables clients to connect, manage and optimise millions of IoT devices across networks, geographies, and technologies within a single integrated environment. Since Montagu’s initial investment in 2018, Wireless Logic has grown its employee count over seven times, increased its revenue more than sixfold and its EBITDA over sevenfold.
Under Montagu’s ownership, Wireless Logic has completed 15 strategic acquisitions, expanding its addressable markets.
Wireless Logic has benefitted from an ever-increasing number of connected devices driven by technological innovation and automation, including new wireless network technologies and increasing adoption of AI.
