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Cellhire will expand its product and service offering and develop its IoT proposition following investment from PE firm LDC.
The IoT and mobile data specialist increased turnover by 42% between 2019 and 2022, from £19.1m to £27.1m.
LDC is backing the existing management team led by Chairman Tim Williams (pictured) and Group CEO Martyn Stevens.
Williams said: “With LDC’s support we’re now ready to broaden our proposition through technology and service.”
Dan Smith, Partner and Head of Yorkshire at LDC, added: “There is scope to grow the business particularly as the market opens up to a growing number of IoT use cases.”
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