Mobeus continues exit run with sixth sale of the year

The deal, which received initial approval from the Competition and Markets Authority last night, takes Mobeus's total realisation value for the year so far to £200m, following the sales of MachineWorks to Westec Holding Company; energy business Monsal to GE; ATG Media to ECI Partners; DiGiCo to Electra Partners' new audio group; and most recently its divestment of Focus Pharmaceuticals to Cinven-backed Amdipharm Mercury.

It is understood that, from the £25m invested across these six companies, Mobeus has generated a profit of close to £50m.

Previous investment
Mobeus invested in Youngman in October 2005 (prior to the VCT's spinout when it was known as Matrix Private Equity), picking up a significant minority holding in the business. According to unquote" data, the transaction was supported with senior debt from HSBC.

Company
Established in the 1920s, Youngman produces access equipment including specialist step and loft ladders, access and work platforms, and extension and combination ladders. The company also designs and manufactures bespoke access systems for customers in the military, commercial aerospace, rail and petrochemical sectors.

The company is based in Essex where it has its head office, a manufacturing facility, a repair centre and warehousing and distribution facilities. Youngman also operates a warehouse and distribution depot in Glasgow and Compiegne in France.

People
Mark Wignall is managing partner of Mobeus. Paul Bentley is managing director of Youngman Group.

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• Topics
• Exits
• UK / Ireland
• Mobeus Equity Partners
• United Kingdom
• ECI Partners
• Electra Partners LLP
• Cinven