Mobeus exits Motorclean in management buy-back

Under the vendor's tenure, Motorclean has undertaken an acquisitive growth strategy and expanded its geographic footprint across the UK.

Mobeus was invested in the company via its VCTs.

Previous funding
LDC acquired Motorclean in 2005, injecting equity and a debt package comprising senior debt and working capital facilities provided by Lloyds TSB Acquisition Finance.

Mobeus then acquired Motorclean from LDC in a £6m deal in 2011, before providing an additional £3.2m of funding two years later to support the acquisition of Forward Valeting.

Company
Founded in 1975 and headquartered in Basildon, Motorclean is an automotive valeting business. The firm's customer base is principally made up of retail dealers, auctions and car supermarkets. It generates a turnover of £50m, up from £20m at the time of Mobeus's initial investment, according to a statement.

People
Mobeus Equity Partners – Chris Price (partner).
Motorclean – Dave Warren (managing director).

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• Topics
• Exits
• UK / Ireland
• Support services
• United Kingdom
• Mobeus Equity Partners
• Management buy-back