Maven reaps 7.1x on Cash Bases exit

Maven made a 7.1x money multiple on the investment, having led the management buyout of the company in 2004.

Since the GP’s initial investment, Cash Bases has increased its international sales and invested in new product development, according to Maven.

The divestment comes 10 months after Maven sold oil & gas services company EFC Group to a consortium of private investors, a transaction that generated a 3.8x return.

Company
Founded in 1981 and headquartered in Newhaven, Sussex, Cash Bases manufactures POS cash drawers. The company currently has international contracts with brands including McDonalds, Starbucks, Tesco, Carrefour and Lidl.

Cash Base's most recent product, SmartTill, measures the amount of money in a drawer at any one time and feeds the information to retailers' back-office systems. It automatically alerts managers when cash levels reach minimum or maximum levels.

People
Andrew Symmonds is a portfolio manager at Maven. Philip Stone is the managing director of Cash Bases.

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