Montagu raises €2 billion continuation vehicle to support Wireless Logic’s next phase of global growth

Montagu, a leading mid-market private equity firm, today announced the successful close of a €2 billion single-asset continuation vehicle (“SACV”) to extend its partnership with Wireless Logic (“the Company”), a leading global Internet of Things (“IoT”) platform provider. 

The fund, the largest SACV 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. The vehicle was heavily oversubscribed, reflecting strong demand from both existing and new institutional investors and underscoring Wireless Logic’s performance, as well as Montagu’s track record of executing landmark transactions and delivering value through active ownership. 

Founded in 2000 and headquartered in the UK, Wireless Logic is the global leader in IoT connectivity, bridging the physical and digital worlds with secure, scalable and seamless solutions for enterprises across industries. The Company’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 delivered exceptional growth, transforming from a UK-centric business into a global leader. Over this period, 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, supported by Montagu’s network, execution support, and integration expertise. These acquisitions have expanded the Company’s addressable markets, deepened its product portfolio, and strengthened its international footprint. 

Benefiting from powerful secular tailwinds – with an ever-increasing number of connected devices driven by technological innovation and automation, including new wireless network technologies and increasing adoption of AI – Wireless Logic is well positioned to capitalise on the growing demand for real-time, secure data connectivity. 

This transaction allows Montagu and the Wireless Logic management team to continue their partnership through the next ownership cycle, supported by new capital to drive global expansion, customer diversification, and further enhance the Company’s platform and services. 

Ed Shuckburgh, Managing Partner – CEO at Montagu, said: “Wireless Logic is one of very few businesses in Europe to have scaled to this level, and it continues to deliver strong growth year after year. We’re proud to deepen our partnership with a company we know so well and one where we continue to see enormous opportunity ahead. This reinvestment underlines our conviction in Wireless Logic’s exceptional team, technology and market position, and exemplifies Montagu’s approach of backing category leaders through multiple phases of growth. We’re delighted to welcome TPG GP Solutions alongside CVC Secondary Partners as investors in the fund and continuing our successful partnership in the Company with Partners Group.” 

Wireless Logic Co-Founder and CEO Oliver Tucker said: “We are proud of what we’ve achieved alongside Montagu and our partners, and we are excited to continue building on this momentum. Together we will further strengthen our global footprint, continue to simplify and automate IoT connectivity for our customers, and deliver long-term value for all stakeholders. I look forward to this next chapter of our growth journey.” 

Evercore acted as financial advisor on the continuation fund transaction, Rothschild & Co provided sector and transaction advice, and Paul, Weiss served as legal counsel. The transaction is expected to complete in December 2025.