Montagu, a leading mid-market private equity firm, has closed a €2 billion single-asset continuation vehicle to extend its investment in Wireless Logic, a global leader in Internet of Things (IoT) connectivity solutions. The transaction marks Europe’s largest single-asset continuation vehicle this year. It reinforces investor confidence in both Wireless Logic’s growth trajectory and Montagu’s track record in executing complex, high-value transactions.
The continuation fund will be managed by Montagu, with TPG GP Solutions serving as the lead investor and CVC Secondary Partners and Partners Group acting as co-leads. The vehicle was significantly oversubscribed, attracting robust demand from existing and new institutional investors. The transaction will enable Montagu and Wireless Logic’s management team to continue their partnership through the next stage of the company’s growth, supported by fresh capital for expansion, diversification, and continued platform innovation.
Founded in 2000 and headquartered in the UK, Wireless Logic provides secure, scalable, and seamless IoT connectivity solutions that connect and manage millions of devices across industries and geographies. Since Montagu’s initial investment in 2018, the company has undergone a dramatic transformation from a UK-focused player into a global market leader. During this period, Wireless Logic’s employee base has grown more than sevenfold, while revenue has increased over six times and EBITDA more than sevenfold.
Montagu’s support has been instrumental in this growth, with 15 strategic acquisitions completed under its ownership. These transactions have expanded Wireless Logic’s product offering, strengthened its international footprint, and deepened its presence across high-growth verticals. The company continues to benefit from powerful industry tailwinds as IoT adoption accelerates across sectors, driven by automation, artificial intelligence, and next-generation wireless network technologies.
With this transaction, Montagu will continue to back Wireless Logic’s management team as they seek to further enhance the company’s global reach, streamline its connectivity offerings, and deliver long-term value to customers and stakeholders. The transaction is expected to close in December 2025.
Support: Evercore served as financial advisor on the continuation fund transaction, while Rothschild & Co provided sector and transaction advice, and Paul, Weiss acted as legal counsel.
KEY QUOTES:
“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.”
Ed Shuckburgh, Managing Partner – CEO at Montagu
“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.”
Oliver Tucker, Co-Founder and CEO at Wireless Logic
