Dragons’ Den’s Peter Jones sells telecoms business
Dragons’ Den serial entrepreneur Peter Jones CBE has sold one of his telecoms businesses, Wireless Logic, to ECI Partners, the UK mid-market private equity firm, and management for £38m. This is the third telecoms business that the star of Dragons’ Den has sold in the last year. In the last twelve months alone he has sold various telecoms interests receiving almost £100 million in the process.
Wireless Logic is the UK’s leading independent Machine 2 Machine (M2M) communications specialist, with 3,600 customers and over 500,000 SIMS under management. ECI is one of the longest established private equity groups in the UK and has total committed capital of over £1.1billion.