UNQUOTE

Mobeus fully exits VSI with Lightwork sale to Siemens

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Mobeus Equity Partners has sold Lightwork Design, a UK-based rendering and virtual reality software developer, to Siemens, bringing to an end a 12-year holding period.

The transaction is a final divestment from portfolio company VSI, which sold its MachineWorks Software division to German group Heidenhain in 2014.

The VSI investment in its entirety generated a 4.8x return and an IRR of 29% for Mobeus, which was invested in the business via its VCTs.

Previous funding
Mobeus invested £1.9m in the £6m management buyout of VSI in 2006.

Company
Founded in 1989, Sheffield-headquartered Lightwork Design is a developer of photorealistic rendering and virtual reality design review software.

People
Mobeus Equity Partners – Ashley Broomberg (partner); Jane Reoch (investment director).
Lightwork Design – David Forrester (CEO).

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