Mobeus invests £14m in Geotech

The deal was conducted by Mobeus's buyout team, with the GP currently investing from its maiden institutionally backed fund, which held a final close on £166m in August 2016. The GP – which has historically focused on the management of VCT funds – launched the new vehicle early in 2016 shortly after UK regulatory changes were introduced limiting the types of deals permissible to VCT funds.

As part of the deal, Mobeus has introduced former TJ Brent CEO Tim Read as chairperson and former Latchways finance director Rex Orton as finance director.

Company
Founded in 2014 and headquartered in Rickmansworth, Hertfordshire, Geotech provides ground stabilisation services for construction and infrastructure projects. The company's patented Geobind system strengthens ground quicker than traditional methods, according to a statement, which enables projects to enjoy environmental, cost and timeline improvements. Geotech has worked on projects alongside Network Rail, Pinnacle Consulting Engineers and Tesco.

People
Mobeus Equity Partners – Chris Price (partner); Danielle Garland (investment manager); Dominic Draysey (investment executive).
Geotech – Bill Hinge (founder).

Advisers
Equity – Wilkins Kennedy Corporate Finance, Andy Coghlan (corporate finance); Fairgrove Partners (commercial due diligence); Wilson Partners (financial due diligence); Stratton HR (management due diligence); Osborne Clarke (legal).
Management – PDT Solicitors (legal).

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