Forward support Wireless Innovation's acquisition of Rock Seven and YB
Forward Corporate Finance is pleased to announce the acquisition of Rock Seven Mobile Services Limited and YB Tracking Limited, by Horizon Capital portfolio company Wireless Innovation.
Founded in 2008, Rock Seven and YB Tracking provide connectivity and hardware, which enable customers to track assets and IoT devices in remote and hazardous locations utilising the Iridium satellite network. The business has demonstrated significant growth, expanding sales by 200% over the last two years, and will allow the enlarged group to access new fast-growing markets in the M2M sector.
Having worked on the original acquisition of Wireless Innovation, Horizon invited Forward Corporate Finance to support them on these acquisitions. Working closely with all parties, Forward provided financial analysis and modelling support for the acquisition, including construction of historical management accounts, KPIs, and development of a fully integrated forecast model to support the investment case for both equity and debt funding.
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