UK-based private equity firm ECI Partners has acquired British international critical communications service provider CSL for an undisclosed sum. The investment is intended to support the expansion of CSL’s offering and customer base, both organically and through new acquisitions, ECI said in a statement.
Founded in 1996, the company provides secure signalling technology and connectivity solutions in the fire, security, and telehealth sectors. Held by Iconiq Capital, Norland Capital and RIT Capital Partners since 2016, CSL serves one million devices and monitors four billion events each month across the UK, the Nordics, Benelux, Spain, and Ireland.
“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,” CSL’s CEO, Edward Heale, said.
Paul McCreadie, partner at ECI, said the firm has been following the business for several years and got interested in the company’s efforts in the Machine to Machine (M2M) and Internet of Things (IoT) segments. “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,” he added.
ECI typically invests £25m to £100m of equity in deals valued up to £250m.
The firm is currently investing its 11th buyout fund and manages approximately £1.7bn in assets from its offices in London and Manchester.
This article was published by Private Equity News.