NVM invests in Mobius

Katharine Hidalgo
18 September 2019

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NVM Private Equity has supported the management buyout of virtual network operator Mobius Networks.

The firm drew equity from its NVM Private Equity Vintage III fund, which closed on £142m in November 2018. The fund makes investments of £5-15m in the UK small-cap space and mid-market.

The deal was sourced through relationships with local advisers, a spokesperson for NVM told Unquote. The management has retained a stake in the company and the firm is the company's first institutional investor.

No debt has been used as part of the transaction.

The fresh capital will be used to develop its software and will be invested in its sales function.

NVM investment partners James Arrowsmith and Andy Leach will join the company's board.

This is NVM's second buyout in September, after the firm acquired Coalville-based Secure Retail last week.

Company
Mobius is a mobile virtual network operator, providing data connectivity services for Internet-of-Things (IoT) and machine-to-machine applications across the healthcare, transport and retail sectors. The company's clients include Google, IB, Aldi and Siemens. Founded in 2004, the company is headquartered in Coalville. The company employed 12 people in 2018.

People
NVM Private Equity – James Arrowsmith, Andy Leach (investment partners).
Mobius Networks – Doug Gilmour (managing director).

Advisers
Equity – DWF, Alasdair Outhwaite, Rosie Spencer (legal); Dow Schofield Watts (financial due diligence); CIL (commercial due diligence); Deloitte (tax); Continuum (management due diligence).
Company – KBS Corporate (corporate finance); Shakespeare Martineau (legal).