Westbridge Capital reaps 3x on Mobile Computing Systems

The business was sold to the management team, backed by Finance Wales.

MCS was the last remaining asset in the Wales Fund Management portfolio, which was acquired by Westbridge in 2008. Although some of these other inherited assets didn't perform as well as Westbridge's own investments, MCS proved to be a successful venture - with the GP hinting at a potentially higher exit multiple if looking at NAV rather than original cost.

Westbridge set about improving MCS's operations over the course of the holding period. The company was breaking even five years ago - it now generates a £180,000 EBITDA on revenues of £896,000.

Company
Established in 2001, MCS is a software developer focusing on the construction sector. Its flagship product, Priority1, is designed to re-engineer any paper-based process. The product is used to manage project operations dealing with quality control, auditing, compliance, health & safety and environment.

The Swansea-based business employs 11 people.

People
Valerie Kendall led the deal for Westbridge.

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