Global provider of mobile voice and data and IoT communications services Cellhire has secured a significant minority investment from mid-market private equity firm LDC.
The investment will support the Cellhire management team to expand its products and service offering and develop its Internet of Things further
Cellhire offers ways for businesses and partners to stay connected worldwide and has built partnerships with Vodafone, O2 and EE through ISP agreements.
Globally, it has worked with 40 MNO’s and partnered with China Unicom at the Beijing Winter Olympics and Qatari MNO Ooredoo for the FIFA World Cup.
Its turnover increased by 42 per cent between 2019 and 2022 to £27.1m, possibly due to its recent investment in its proprietary Billing and SIM Management Platform- Atlas and expanding its M2M, eSIM and IoT capabilities.
Cellhire Chairman Tim Williams said: “Our team has worked incredibly hard over the last couple of years to strengthen our range of products and services.
“With LDC’s support we’re now at an exciting stage of our journey to broaden our proposition through technology and service.”
LDC partner and head of Yorkshire Dan Smith added: “We are excited to be backing Tim, Martyn and their team.
“They are at the forefront of innovation in the sector and we see there is huge scope to grow the business particularly as the business develops its IoT offering and the market opens up to a growing number of use cases.”
