ECI Partners Exits CSL into Continuation Fund Led by Carlyle AlpInvest, HarbourVest and Pantheon

October 6, 2025

ECI Partners has exited CSL, the UK-based critical IoT connectivity specialist, into an ECI-managed continuation fund led by existing ECI investors Carlyle AlpInvest, HarbourVest Partners and Pantheon, generating a 3.5x return on ECI’s investment. CSL grew c.20% organically during ECI’s ownership, has launched products such as rSIM, and will continue its expansion strategy (including M&A) under the continuation vehicle.

Buyers
ECI Partners continuation fund (ECI-managed continuation vehicle), Carlyle AlpInvest, HarbourVest Partners, Pantheon
Targets
CSL Group
Sellers
ECI Partners
Location
United Kingdom
Transaction Type
Divestiture

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