AURELIUS is pleased to announce it has signed a definitive agreement with Nokia to acquire their Enterprise Campus Edge (ECE) business in a complex, global carve-out. ECE is a recognised industry leader in private wireless and industrial edge solutions, serving nearly 900 customers across manufacturing, mining, logistics, airports, ports and power generation. The business employs around 1,000 people, with key operations in Finland, Hungary, India and the US, and generates annual sales of more than €170m. A special thank you to our Special Advisor Thorsten Robrecht, whose wise counsel and hands-on involvement have been instrumental in helping us get this done. Link to the full press release below in the first comment. #aurelius #privateequity #acquisition #carveout #private5G #industrialedge
Amit Gurtu
6d
What makes it GOOD: •Clear market leader: Recognized leader in private wireless / private 5G. That's a real moat. 900 customers including many Fortune 500s across manufacturing, mining, airports, ports, power gen. •Growing market: Private 5G spend is expected to double to $6.6bn. This business has been growing double-digit annually for a decade. •Sticky product: It's not just radios - it's DAC (Digital Automation Cloud), industrial devices, OT edge, micro-edge + industrial AI apps. Once a factory / mine / port puts this in, they don't rip it out. What makes it WEAK / Why Nokia sold it: •Low scale + low productivity: €170m+ sales with ∼1000 employees = €170k revenue / employee. That's very low for a tech business. It screams heavy services / customization. •Low margin for a telco giant: Nokia said it wants to focus capital "where it can differentiate and create long-term value". Translation: ECE was not profitable enough vs. selling infra to telcos and selling to defense / railways / utilities. Also, it was competing with its own carrier customers who also sell private 5G. •Complex carve-out: 1000 staff in 60+ countries. Aurelius itself calls it a "complex, global carve-out". Integration / standalone costs will be high.
Peter Newton
1w
So interesting, as an ex Nokia employee just moved to Eykon which is part of Aurelius to see this. For me it’s a dream addition to the portfolio
Very interesting investment
a big hand to all teams involved…!
Denis Dlouhy
1w
Congratulations on the signing – a complex global carve-out with a strong business at its core. All the best to the AURELIUS, Nokia and ECE teams for the transition.
Congratulations to AURELIUS on this milestone. ECE is a recognized leader in private wireless, serving nearly 900 customers worldwide across manufacturing, mining, logistics, airports, ports and power generation. As a standalone business under AURELIUS ownership, ECE is expected to benefit from greater independence and a dedicated strategic focus, providing a strong foundation for its next growth phase. Together, we are working closely to ensure continuity for existing customers and employees and support a smooth transition.