Matrix relaunches as Mobeus Equity Partners

Matrix Private Equity's partners acquired 50% of the company's shares and completed the MBO from the Matrix Group. The spinout was led by Mark Wignall, managing partner.

The three Matrix Income & Growth VCTs will be rebranded as Mobeus Income & Growth VCTs. A fourth VCT called The Income & Growth VCT will keep its name.

Overall, Mobeus has £150m under management and will continue to follow the Matrix investment strategy of committing around £5m to UK businesses with profits of £1-3m.

In May 2012, Matrix sold UK tourism agent Iglu for £19m to GCP, making 2.5x money. Earlier that month, Matrix generated 17.8x aggregate returns when selling IT services company Camwood.

Mobeus will move its 20 members of staff into new offices at 30 Haymarket, London.

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