Cellhire secures growth investment from LDC

Communications provider Cellhire has secured an investment for growth from mid-market private equity firm LDC.

Headquartered in York, Cellhire provides mobile voice and data and IoT communications services. It has built key partnerships with UK mobile network operators (MNOs) Vodafone, O2 and EE through long-established ISP agreements.

Recently the business has invested in the development of Atlas, its proprietary billing and SIM management platform, as well as expanding its M2M, IoT and eSIM capabilities. Cellhire said this has underpinned strong growth, with turnover increasing by 42 per cent between 2019 and 2022, from £19.1m to £27.1m.

LDC is backing the existing management team, led by chairman Tim Williams and group CEO Martyn Stevens. The investment was led by Dan Smith, partner and head of Yorkshire at LDC, alongside investment director Will Scales and investment manager Ana-Maria Garaba.

“Our team has worked incredibly hard over the last couple of years to strengthen our range of products and services,” said Tim Williams, chairman at Cellhire. “With LDC’s support we’re now at an exciting stage of our journey to broaden our proposition through technology and service.”