- Sector: Communication Services; Communication & Internet Infrastructure
- Deal Type: Private Equity Deals
- Engagement type: Sellside
- Size: $200-500m
Arma Partners is pleased to announce that it has acted as exclusive financial advisor to JT Group on the sale of its Internet-of-Things connectivity business JT IoT to Perwyn, a family-backed private equity investor.
Founded by JT Group in 2014 and headquartered in Jersey, JT IoT is a global supplier of connectivity to c.10 million IoT-enabled devices worldwide. Via more than 500 roaming agreements, JT IoT provides seamless multi-country, multi-network connectivity, enabling dozens of different IoT use cases across the globe. Its proprietary Nomad platform has established itself as one of the most secure and advanced IoT connectivity management solutions, allowing customers to monitor, control and orchestrate large SIM estates in real time.
JT IoT’s solutions are deeply integrated into its customers’ value propositions, which has helped JT IoT deliver market-leading organic growth, with revenue nearly doubling every year for the last 3 years. As the new majority shareholder, Perwyn is partnering with JT IoT’s management to capitalise on the business’s growth potential through further expansion into international markets and enhancement of its product suite.
JT Group retains a small minority stake and will continue as a key supplier to JT IoT. JT Group’s ability to develop and incubate this high-growth business demonstrates Jersey’s attractiveness as a Digital Economy centre of excellence.
This transaction further demonstrates Arma Partners’ ability to deliver exceptional results for leading IoT companies and illustrates the firm’s ability to execute complex carve-out transactions.