Status:

Current

Commitment:

£16m

Date of investment:

2017

Sector:

Technology services

Buy & Build:

2 completed acquisitions

“It was clear from my first interaction with Horizon Capital that they were actively engaged in supporting our business ambition. Consequently, we have developed a close working relationship enabling the Group to take advantage of the incredible growth in IoT and M2M connectivity.”

Alastair MacLeodCEO, Ground Control

Background

Ground Control is a machine to machine (“M2M”) and Internet of Things (“IoT”) connectivity platform provider. The business specialises in data connectivity enabling clients to connect, protect and track remote assets and people. Ground Control’s clients are based in over 100 countries and across a wide range of sectors including Renewables, Electricity, Water, Oil & Gas, Telematics and Marine. 

The market that Ground Control operates in has been sized at $900m and growing at over 15% per annum. The nascent and fragmented nature of the market also lends itself to consolidation. Horizon Capital worked closely with management to develop a strategy to consolidate the sector with origination capability, M&A support, and capital.

The Journey so far

Since Horizon Capital’s investment in 2017, Ground Control has closed two acquisitions further developing its IP and offering to customers across the globe. 

Horizon Capital has worked with the business to build out the management team and invest for growth, hiring a CEO, COO and CFO, implementing a new accounting and CRM system and investing in the continued IP development of the group. 

Buy and Build

Ground Control has completed two add on acquisitions which have enhanced the Group’s capabilities and expanded the international footprint to better serve its client base.

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