Mobeus backs £25m buyout of Ward Thomas

Following completion of the deal, Ward Thomas stated it intends to continue with its buy-and-build growth strategy, which saw it acquire Aussie Man & Van in 2012.

The deal is Mobeus's fifth investment of 2014, bringing the total amount of capital invested to £28m. Most recently the GP backed the management buyout of printing software business Tharsten with a similar debt and equity package.

Mobeus stated it was attracted to Ward Thomas by its management team and growth track record.

Company
Founded in 1985 and headquartered in London, Ward Thomas is a logistics, storage and removals company. It consists of the Anthony Ward Thomas Master Removers, Aussie Man & Van and Bishopsgate Specialist Installations brands.

The business has a headcount of 200 and generates an annual turnover of £20m.

People
Richard Babington is an investment director at Mobeus. Anthony Ward Thomas is founder of Ward Thomas.

Advisers
Equity – Burges Salmon, Richard Spink, Vanessa Barnicoat, Corrine Harries (Legal); HW Corporate Finance, Charles Whelan, David Wrench, Richard Hall (Financial due diligence); Fairgrove Partners, Paddy Woods Ballard, Patrick Woodrow (Commercial due diligence); Philip Hare, Schyok Zafar (Tax).
Management – Flying Buttress Partners, Hugh Easterbrook (Corporate finance); Sherrards Solicitors, Jean-Paul da Costa (Legal); Thomas Eggar, Marguerite Whitehurst (Legal).

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• Topics
• Buyouts
• Consumer
• UK / Ireland
• United Kingdom
• Mobeus Equity Partners