inside out New investments 03

Realisations 20

£5m for Vivacity Labs Tech company is improving traffic insights with AI 18 Recent news We toast Virgin Wines’ oversubsribed 30% IRR on sale of Advantedge AIM IPO. The D2C wine retailer is set to First exit from our current fund benefit further from the enduring shift to online 26

New 01 Exits inside out / spring edition 2021 Business services The last 18 months in numbers Consumer Financial Services You don’t need us to point out how the world has changed since the end of 2019, nor to remind you of the uncertainty and concern we all faced a year ago. Nonetheless, we have achieved so much more than we anticipated in those early days of the pandemicHealthcare and we wanted to thank you for your support, from introductions to great new businesses, to advice and analysis enabling us to execute investments and exits through this extraordinary period. Industrials

TMT

Almost £65 million to back eleven and provide further growth capital invested businesses for eight existing with high potential for growth investments

Business services Deals by sectors Deals by regional headquarters Consumer South East England Business Services Birmingham London Scotland Financial Services Consumer Cambridge Norwich Financial Services Oxford Healthcare Lancashire Oxford Healthcare Norwich IndustrialsIndustrials Leeds Scotland London TMTTMT Lincolnshire South East England Lincolnshire

Leeds We fully Generating cash At an average And supported With the help of exited ten proceeds of over money multiple of two LIPOsancashire over 50 businesses £140m over the life 2.7x Cambridge different of those investments Birmingham advisory firms

South East England

Scotland New 02 Exits inside out / spring edition 2021 Oxford

Norwich

London

Lincolnshire

Leeds

Lancashire

Cambridge

Birmingham Click pod to New Investments jump to deal

ActiveNav Access Partnership IPV Bella & Duke November 2019 November 2019 December 2019 March 2020

Rotageek MyTutor Andersen EV Buster + Punch Preservica ABL 1Touch May 2020 June 2020 July 2020 September 2020 October 2020 December 2020

Full Colour Joint Logo

3 Colour Joint Logo

3 Colour Joint Logo Small (Less than 100mm)

1 Colour Joint Logo Connect Childcare Bleach Northern Bloc ARKK Vivacity Caledonian Leisure December 2020 January 2021 January 2021 February 2021 February 2021 March 2021 1 Colour Joint Logo Small (Less than 100mm)

*All dates throughout this document refer to the date the deal was announced rather than when it completed

03 inside out / spring edition 2021 ActiveNav November 2019 A data privacy and governance software provider Growth

The team behind the deal

Sector Investment lead TMT Greg Blin

Deal type

Growth On the board Capital Trevor Hope

Total raised in latest “There is a pressing funding round need for companies to prioritise data privacy. £8 million The Business The Deal This investment will With the steady stream of high-profile corporate data Mobeus led a £8 million funding round. This investment advance product Total funding breaches, and illicit monetisation of personal data, followed a period of strong growth, with ActiveNav development so we committed by consumers are increasingly concerned how their adding some of the world’s best-known brands such as can scale rapidly to Mobeus to date support our customers’ personal information is being captured, shared, stored BAE Systems, the United States Marine Corps and Voya data mapping, £5 million and deleted. The strengthening of global data privacy Financial to its customer portfolio. data minimisation regulations, such as Europe’s GDPR and the California The Plan and regulatory Consumer Privacy Act (CCPA) in the US, reflects this ActiveNav is accelerating the development of its new compliance.” shift. After extensive reviews of the vendor landscape privacy-oriented SaaS product, scaling operations and by Mobeus, ActiveNav stood out as a clear leader with Peter Baumann continuing to expand internationally. Active also plans strong product innovation, an experienced ActiveNav, CEO to increase headcount and expand its network team and an impressive list of customers. of technology and services partners to cement its position as a frontrunner in the rapidly growing data privacy market.

New 04 Exits inside out / spring edition 2021 Access Partnership November 2019 An international public policy firm that advises many of the world’s largest technology companies Buyout

The team behind the deal

Sector Business Investment lead Services Freddie Bacon

Deal type Equity Investment team Release Chris Price

Size of investment

£13.1 million On the board The Business The Deal Guy Blackburn Access is a fast-growing, international public policy firm Mobeus invested £13.1 million for a minority stake in the that advises many of the world’s largest technology business, which has experienced rapid growth, with companies on matters ranging from data policy to revenues doubling over the previous three years. “Access is uniquely infrastructure regulation and compliance. Access is The Plan placed to capitalise positioned at the heart of regulatory and technology Mobeus’s investment will enable the consultancy to on the significant change and has a deep understanding of both policy expand its services both geographically and to the market opportunity and technical aspects of dataflows and data delivery growing number of verticals affected by changing data in regulatory and systems. Headquartered in London, the business rules. We are excited to support Access as it continues technology change. We manages its international service offering from offices are delighted to partner its high-growth trajectory across international markets, in the US, Africa, Asia and the Middle East. This with Mobeus.” underpinned by strong dynamics that favour the operational scope enables Access to serve its world- innovative solutions it offers. Gregory Francis leading multinational client base wherever their policy Access, Managing needs arise. Director

New 05 Exits inside out / spring edition 2021 IPV December 2019 The media asset management software provider Growth

The team behind the deal

Sector Investment lead/ On the TMT board Rowan Grobler

Deal type “We have fantastic Growth customers, and an exceptional product Capital and vision. With the new funding round and Mobeus’s support, we have a clear and Total raised in latest exciting growth plan funding round for IPV. Our intelligent search and fully £4 million The Business The Deal integrated AI give Streaming and Over The Top services are becoming Mobeus led a £4 million investment round to back a world-class brands Total funding ever more dynamic, while video is growing across all senior team of proven operators. With further capital to committed by and companies, organisations from broadcasters to brands. As a result, support the sales and marketing function, IPV will be well remote accessibility, Mobeus to date efficiently organising and collaborating on content is positioned to target the digital marketing sector in both to manage their video £3 million more important than ever. IPV has developed one the US and the UK. This exciting market is growing at content quickly and of the leading media asset management products, over 20% year-on-year. effortlessly.” Curator. Curator makes any brand’s video content The Plan Mark Fagan easily accessible to anyone who needs it regardless The investment is funding increased sales and marketing IPV, CEO of location, substantially enhancing video use. activity to deliver a focused and measured growth plan. IPV has an enviable blue-chip client base, including The company will continue to transition to a subscription- leading players in multiple verticals, such as HBO, based model, as it capitalises on its already established YouTube, Adidas and NASA, with a significant presence client base and expands its reach in the US. across the UK and the US.

New 06 Exits inside out / spring edition 2021 Bella & Duke March 2020 The subscription home delivery service for premium raw dog food Growth

The team behind the deal

Sector Investment lead Consumer Joshua Henshaw

Deal type

Growth On the board Capital Matt Mead

“We consult the latest Total raised in latest research, speak with funding round ground-breaking scientists and thought- £3.5 million The Business The Deal leading vets, look at To make its highly-rated meals, Bella & Duke applies Mobeus led a £3.5 million round into Bella & Duke, Total funding clinical feedback and nutritional science, and sources the best local including existing angel investors. The business is committed by listen to our amazing ingredients, which are blended in its own kitchen to also supported by Chair and serial entrepreneur Kevin customers, so that Mobeus to date human food consumption standards and frozen inside Dorren. Kevin already works with Mobeus in his role as we know our meals £3 million 30 minutes, before delivery on demand to customers’ Chair of Parsley Box and has significant experience in will make a huge doors nationwide. All food arrives fresh without additives scaling direct-to-customer businesses, including Diet contribution in helping or preservatives. Management data indicates B&D will Chef. dogs achieve optimum deliver in excess of 230,000 orders this year and is on health.” The Plan track for 103% year-on-year revenue growth. With this funding, the business is capitalising on its early Mark Scott mover advantage in a fast-growing niche of the large Bella & Duke, CEO and established pet food market by further investing in sales and marketing, and recruitment.

New 07 Exits inside out / spring edition 2021 Rotageek May 2020 The cloud-based, data-driven scheduling technology Growth

The team behind the deal

Sector Investment lead TMT Greg Blin

Deal type

Growth On the board Capital Ed Wass

Total raised in latest funding round Origination Katia Mendonça £6 million The Business The Deal Leading brands, including high street names like Having first invested in Rotageek in 2018, Mobeus co-led Total funding The Perfume Shop, Dune, Pets at Home and O2 use a £6 million new investment round. committed by “It’s our mission to create a Rotageek’s intelligent software across their UK stores to Mobeus to date The Plan step change in scheduling effectively schedule staff, provide better cover for shifts Rotageek will continue to develop its advanced data- to improve not only how and manage leave during busy periods. Over the last businesses run operations, £4 million driven solutions and recruit experienced specialists year, Rotageek’s software was offered for free to NHS but also positively and in development and customer service. By improving hospitals nationwide to help healthcare teams impacted significantly impact the lives hospital staff planning, Rotageek is helping health of shift-based employees. by the onset of COVID-19. As a result, the business has administrators respond more effectively to the pandemic As a former doctor, I won its first NHS . am passionate about and ensure necessary access to care. taking those benefits into healthcare.” Chris McCullough Rotageek, CEO

New 08 Exits inside out / spring edition 2021 MyTutor June 2020 Leading digital platform for online private tutoring in the UK Growth

The team behind the deal

Sector On the board TMT Matt Mead

“There is an urgent Deal type need to ensure all children get back Growth on track with their Capital education. Through our consumer- facing platform and partnerships, such as Total raised in latest the National Tutoring funding round Partnership, we know that we can reduce £4 million The Business The Plan learning gaps. The On MyTutor’s digital platform, school pupils are matched MyTutor will use the funding to invest in sales and pandemic has seen Total funding with handpicked, high-performing university students marketing, to further develop its excellent technology a whole generation committed by for one-to-one tuition in an interactive online lesson platform and to expand its team. of parents see the Mobeus to date space. The schoolchildren receive great one-to-one benefits of online tuition Since the onset of COVID-19, MyTutor has seen demand support, parents and teachers see improved educational and we believe this is £8.7 million scale rapidly as families and schools have had to outcomes, and the tutors benefit from work they can fit just the start of a more embrace online learning. They anticipate this demand permanent shift.” around their degrees. will continue, to help children in all years get back on Bertie Hubbard The Deal track and to stop children falling behind. MyTutor, Co-Founder Mobeus originally invested £2 million into MyTutor in and CEO 2017. Since then, the company has grown rapidly and Mobeus led a £5 million round in June 2018. In 2020, Mobeus led a £4 million Series B that brought the total funding raised to date by the Company to £14 million.

New 09 Exits inside out / spring edition 2021 Andersen EV July 2020 The smart, aspirational electric vehicle charger Growth

The team behind the deal

Sector Investment lead TMT Jane Reoch

“We have a very clear Deal type philosophy, which meant finding the right Growth investment partner, Capital who really understood what drives us, was crucial. Going electric is a choice to embrace a Total raised in latest sustainable future and funding round we see EV chargers being at the centre £1 million The Business The Deal of everyone’s smart Andersen EV is a designer of smart, sleek electric Mobeus has invested £1 million into Andersen, a energy home. This Total funding vehicle chargers. Andersen uses industrial-grade business which was introduced via the Women in additional funding committed by electronics to deliver enhanced performance, as well VC network. As part of the transaction, Mobeus has means that we are very Mobeus to date as advanced software for a range of smart charging introduced Rob Mouser as Executive Chair. Rob led excited about the next functionality. Electric vehicle adoption continues at a previous Mobeus investment Plastic Surgeon to a stage in our growth £1 million journey.” rapid pace. In the UK, sales of battery electric vehicles 5.6x money exit in 2019. almost tripled in 2020, according to data from the Jérôme Faissat The Plan Society of Motor Manufacturers and Traders, with Funding will be drive expansion in the fast-growing Andersen EV, plug-in cars now accounting for more than 10 per cent electric vehicle market. Andersen grew revenues by Co-Founder and of UK sales. over three and a half times in the year to February 2020 CEO and is well positioned to benefit from a ‘green’ recovery post-COVID-19. Andersen will invest in operations, sales and customer support, and increase production.

New 10 Exits inside out / spring edition 2021 Buster + Punch September 2020 Buster + Punch specialises in fashion-forward designs crafted from rare, solid materials in a Growth distinctive contemporary, industrial style

The team behind the deal

Sector Investment lead/ On the Consumer board Greg Blin

Deal type “Over the last three years we have invested Growth hard in our people, our systems and our Capital products and all of our very special employees have been rewarded to Total raised in latest see that our customers love our products and funding round what we stand for… making ordinary things, £7 million The Business The Deal extraordinary. The Founder Massimo “Buster” Minale’s passion for Mobeus first committed £2.9 million to accelerate Total funding additional funding will motorcycles, metalwork and sub-culture has created Buster + Punch’s growth prospects in 2017. Since allow us to continue our committed by a global brand unlike any other, transforming ordinary then, the business has continued to deliver consistent expansion, deliver an Mobeus to date functional home fittings, from the light switch to the door high growth across its ranges, with annual revenues even better customer handle, into ‘must-have’ home details. Today the brand increasing threefold, and reaching nearly £10 million in journey, invest more in £9.9 million our staff and bring more has amassed a devoted celebrity following and has FY2020. In September 2020, Mobeus announced a of those ‘extraordinary, positioned itself as the affordable luxury homeware label further £7 million commitment. ordinary’ products, in our for the fashion conscious, offering hardware, electrical unique design, to a much The Plan goods, lighting, furniture and lifestyle accessories. larger global audience.” The new funding from Mobeus will be used to drive further expansion and strategic penetration into North Martin Preen America and Asia Pacific markets. Buster + Punch, CEO

New 11 Exits inside out / spring edition 2021 Preservica October 2020 A leading provider of digital preservation solutions Growth

The team behind the deal

Sector Investment lead TMT Trevor Hope

Deal type

Growth On the board Capital Matt Mead

“This further investment Total raised in latest reflects a real funding round confidence in the business, especially Tessella developed the Preservica platform, which £2.5 million The Business at this time of global Preservica’s award-winning software future-proofs spun off when Tessella was sold to French public Total funding change. The funding all types of digital content against technology company Altran in 2015. Since 2016, Mobeus has will enable us to committed by obsolescence, ensuring it remains accessible and supported Preservica’s international expansion and further innovate our Mobeus to date trustworthy over decades to meet legal, compliance, further technological development by providing an core product and £9.5 million governance, and brand value needs. Available as a initial investment of £3 million and a further investment make it easy for any cloud-hosted SaaS or on-premise solution, Preservica’s of £4 million in 2018. In 2020 Mobeus brought its total organisation to use software is already trusted by a growing global client invested to £9.5 million. digital preservation base - from major corporations and government bodies to protect critical The Plan information.” to iconic cultural institutions. Preservica will continue its expansion in the US, where Mike Quinn The Deal it is now headquartered, accelerate product innovation Preservica, CEO Mobeus’s history with Preservica dates to 2012 when we through its new freemium “Starter” product and further backed Tessella, a Data Science Consultancy. scale through enterprise sales.

New 12 Exits inside out / spring edition 2021 ABL 1Touch December 2020 A tech-enabled automative accident repair group Buyout

Full Colour Joint Logo The team behind the deal

3 Colour Joint Logo

Sector

3 Colour Joint Logo Small (Less than 100mm)

Business1 Colour Joint Logo Investment lead Services Freddie Bacon

1 Colour Joint Logo Small (Less than 100mm)

Deal type Investment team MBO Richard Babington

Size of investment

£9.5 million Investment team The Business The Plan Matt Gordon-Smith ABL 1Touch provides accident damage repair services, ABL 1Touch doubled its turnover during the three years primarily to large motor insurers. The business is known prior to the buyout and has a proven site rollout model, for its technical innovation, low cost and environmentally supported by its proprietary operational systems. “Of all the investors we met, friendly ‘repair over replace’ methodology, and market- Mobeus felt right from the Following the buyout, Mobeus will support further beginning. They supported leading levels of customer satisfaction. us through a difficult expansion of the regional footprint, as the business looks On the board process in an exceptional The Deal to almost double the number of operating sites during Guy Blackburn year. Together, we can’t wait Mobeus backed the incumbent ABL 1Touch management the investment term. to deliver our strategy.” team, which has built the group to a 13-site network across Southern England, with a £9.5 million investment. Jonathan Radford The team will be supported by experienced industry ABL 1 Touch, figure Bill Duffy, previously of Nationwide Autocentres, Managing Director who has joined the board as Non-Executive Chair.

New 13 Exits inside out / spring edition 2021 Connect Childcare December 2020 The UK’s leading Nursery Management Software Growth

The team behind the deal

Sector Investment lead/ On the TMT board Rowan Grobler

Deal type Growth Investment lead Capital Jane Reoch

Total raised in latest funding round “We’re thrilled to welcome Mobeus to The Business McCall was Chairman at ASL, the independent managed the team and together £4 million embark on a very Connect Childcare’s market-leading technology office services supplier that Mobeus exited successfully Total funding exciting new chapter. solutions provide a single, comprehensive, end-to-end in 2019. Bill previously chaired several large nursery Our vision is to develop committed by system for nursery administration. 14 of the top 25 UK groups within the UK. technology that improves Mobeus to date nursery chains, nurseries and pre-schools use Connect outcomes for children The Plan Childcare to manage nursery activities, including logging and the investment will £4 million The new investment will be used to support the launch observations of children (meals and naps), invoice and enable us to cement of a new payment offering and a Software as a Service our position as the UK payment management, and parent communication. solution. The SaaS product can be installed remotely and market leader, build out The Deal integrates easily with third party applications, making it our team and deliver ambitious plans.” Mobeus invested £4 million of growth capital more flexible and scalable. As part of the investment, the in December 2020. To support the high-quality business will strengthen its sales and marketing team, Chris Reid management team, Mobeus introduced Bill McCall develop product marketing, and drive further growth Connect Childcare, as Chairman. from its market-leading position. Founder and CEO

New 14 Exits inside out / spring edition 2021 Bleach January 2021 The vegan and cruelty-free hair brand Growth

The team behind the deal

Sector Investment lead/ On the Consumer board Greg Blin

Deal type “It feels like a really natural extension Growth of Bleach’s growth Capital to anchor our next chapter in real, vibrant collaboration between our customers and Total raised in latest our stylists. Our funding round community, and a sense of DIY energy £2.5 million The Business The Deal has always been at Bleach London is a vegan and cruelty-free hair colour, The total invested in Bleach to date is almost £10 the heart of what we Total funding hair care and make-up brand. The group’s dye-at- million, co-led by Mobeus and Burda Principal do. We’ve seen such committed by home hair colour and haircare kits continue to grow Investments, with further participation from Talis and transformation to our Mobeus to date in popularity, with a Bleach kit sold every 45 seconds True Capital. customers.” during the first four weeks of the first COVID lockdown. £2.9 million The Plan Sam Campbell Now, Bleach has launched an industry-leading, Supported by the fundraise, the business is investing Bleach, CEO and experiential ‘virtual salon’; new highly-responsive tech significantly in its internal infrastructure, an expanded Co-Founder to deliver experimental, salon-grade, DIY hairstyles to senior management team, and an all-new, soon-to- its uniquely engaged young community of over half a launch loyalty programme. 2021 will see the business million followers worldwide. expand further into the US, with the opening of an LA location.

New 15 Exits inside out / spring edition 2021 Northern Bloc January 2021 The ice-cream alchemist, known for its market-leading vegan range Growth

The team behind the deal

Sector Investment lead Consumer Jane Reoch

Deal type “Doing the right thing is at the heart of Growth Northern Bloc, from leading the way in Capital sustainable innovation to supporting our partners and customers. Partnering with a Total raised in latest responsible investor funding round was fundamental to our growth strategy and £1.5 million The Business The Deal we’re delighted to be The urban ice cream company is a true breakthrough Mobeus, who invested £1.5 million, was attracted by Total funding working with Mobeus, brand, well-positioned for growth as the plant-based Northern Bloc’s top tier positioning and the growth of the which shares our vision committed by movement garners global attention. The products use vegan market. and values.” Mobeus to date all-natural flavours with no compromise on quality or The Plan taste. Josh Lee £1.5 million The funding will be used predominantly to drive further Northern Bloc, Northern Bloc has strong distribution in the retail sector, retail sales in 2021. Co-Founder with listings in Waitrose, Co-op and Morrison’s. In 2020, Northern Bloc will also invest in increasing its production Northern Bloc also became the first ice cream brand capacity, strengthening the team and focusing on brand in the UK to introduce fully sustainable packaging, experience across retail and out of home. changing the plastic coating on its paper tubs to a fully recyclable, compostable alternative.

New 16 Exits inside out / spring edition 2021 ARKK February 2021 A SaaS platform giving leading companies confidence in their tax and regulatory reporting Growth

The team behind the deal

Sector Investment lead TMT Matt Mead

“Mobeus’s investment Deal type in Arkk comes at a tipping point for Growth transforming tax and Capital reporting functions. CEOs trying to steer companies through a tough competitive and Total raised in latest regulatory environment funding round can no longer afford to get tax wrong. The £2.2 million The Business Having first backed ARKK in May 2019, our investment timeliness and accuracy Founded in 2009, ARKK is a UK-based Software as now totals £7.2 million to support the business to of external reporting Total funding a Service provider that digitises regulatory reporting, leverage its unique platform, strong reputation in the underpins a company’s committed by which is increasingly required by authorities worldwide. regulatory reporting market and loyal customer base. standing with investors, Mobeus to date The business recently launched for:sight, a new software regulators, customers, The Plan platform that simplifies burdensome processes, reduces employees, suppliers £7.2 million The investment will support ARKK’s plans to invest the potential for non-compliance, and frees up the and society.” in sales, marketing and new product development finance function to focus on value-adding tasks. to accelerate its strong position in the UK tax and Richard Metcalfe regulatory reporting market ARKK, CEO

The Deal

New 17 Exits inside out / spring edition 2021 Vivacity Labs February 2021 Sensors and artificial intelligence which improve traffic insights and safety Growth

The team behind the deal

Sector Investment lead TMT Greg Blin

Deal type

Growth On the board Capital Ed Wass

“This investment will Total raised in latest support our objective funding round to enhance and optimise traffic systems

£5 million The Business The Deal everywhere. It’s great to Vivacity Labs works with national government, regional Mobeus led the £5 million Series A investment, with Total funding see positive initiatives bodies and local councils to re-think and optimise the funding from existing investors Downing Ventures and such as active travel committed by way traffic and transport infrastructure is built and used. London Co-Investment Fund. being prioritised. I’m Mobeus to date The technology provides anonymous, highly accurate proud of our team The Plan data to deliver real-time insight into road networks and who have developed £4.2 million Vivacity Labs plans to double its headcount and is infrastructure and is at the forefront of developments of some first-of-its kind recruiting for roles across the company. The company smart cities, active travel and autonomous vehicles. technology which has is also seeing strong international demand. This year untold potential.” it will expand into countries including the Nordics, Benelux, and Australia. Transport for Greater Manchester Mark Nicholson is already a key partner. The Greater Cambridge Vivacity Labs, CEO Partnership, in conjunction with Cambridgeshire County Council, has also chosen to pilot this intelligent technology.

New 18 Exits inside out / spring edition 2021 Caledonian Leisure March 2021 Staycation holiday specialist offering great value short breaks and holidays Growth

The team behind the deal

Sector Investment lead Consumer Greg Blin

Deal type

Growth On the board Capital Simon Bursell

Total raised in latest “It was always our funding round absolute priority to find the right kind of £2 million The Business The Deal partner and we are Caledonian Leisure Ltd is a staycation holiday specialist Mobeus has committed to a £2 million Series A delighted to welcome Total funding that will offer great value short breaks and holidays investment. Mobeus on board. From committed by throughout the UK, Ireland and Europe. the outset the whole Mobeus to date The Plan Mobeus team bought From seaside getaways and city breaks to family The highly experienced team is in the process of into our vision and we £2 million attractions and sporting events, Caledonian Travel launching a programme of coach and self-drive look forward to working will offer a broad choice of coach breaks while holidays for 2021. As the UK progresses through the together to implement UKBreakaways.com will allow customers to enjoy the Government’s roadmap, Caledonian Leisure expects our strategy.” freedom to make their own way by car, bus or train. customers will be able to holiday with them from June Graham Rogers or when all restrictions are lifted. Caledonian Leisure, Managing Director

New 19 Exits inside out / spring edition 2021 Click pod to Exits Realisations jump to deal

Redline Biosite ATG Access-IS Blaze Signs December 2019 February 2020 February 2020 August 2020 September 2020

Advantedge Vectair Bourn Hall Virgin Wines1 Parsley Box1 November 2020 November 2020 January 2021 March 2021 March 2021

*All dates throughout this document refer to the date the deal was announced rather than when it completed 1The AIM flotations of Virgin Wines and Parsley Box delivered partial realisations for the Mobeus VCTs, which retain significant equity stakes in both businesses

20 inside out / spring edition 2021 Redline Assured Security December 2019 The security solutions and training business

The team behind the deal

Sector One the board Business Rowan Grobler Services

Deal type Investment lead Trade Sale Richard Babington

“Air Partner has made Return: a transformational acquisition whilst 19% IRR management and the The Business The Realisation Mobeus VCTs have 1.8x MM Redline provides government-standard security solutions Redline was sold to Air Partner Plc, a global aviation realised an attractive for aviation companies, event security, corporate services group listed on the London Stock Exchange, return. It’s a great organisations and Critical National Infrastructure (CNI). for total proceeds of £10 million. outcome for all parties and highlights the The Original Deal The Impact importance of backing The Mobeus VCTs invested £3.7 million in Redline Redline expanded its base significantly and now businesses with commanding market in 2016. operates across Europe, the Middle East and Australasia. positions and then The sale represents a Money Multiple, for the VCTs, using our experience of 1.8x cost and an overall IRR of 19%. and networks to create something of real strategic value.” Clive Austin Mobeus Partner

New 21 Exits inside out / spring edition 2021 Biosite February 2020 Biometric access control and workforce management software for UK construction Growth

The team behind the deal

Sector Investment team TMT Clive Austin

“The experience of Deal type working with Mobeus has been first class. Trade Sale Throughout the journey they have been very supportive in terms of operational and Return: funding requirements, enabling us to build 21% IRR out the management team and focus on The Business The Realisation 1.5x MM R&D, so we can provide Biosite empowers clients in the construction industry to Mobeus exited Biosite in a sale to Assa Abloy, the global best-in-class products oversee all aspects of a project via its unique fingerprint leader in access solutions, which owns the Chubb and and services into the algorithm and its workforce management software, Yale brands. marketplace.” including integrated CCTV, fire alarms and guarding. The Impact Li Wang The Original Deal Biosite grew annual revenues from £4.5 million to Biosite, Managing In 2016 Mobeus identified Biosite through its direct £14 million and staff from 50 to 180 people during the Director origination programme and invested a total of £5.75m to investment period, and generated significant profitability. accelerate growth, build out the management team and The sale achieved a 21% IRR and a Money Multiple allow it to focus on product innovation. of 1.5x. Ultimately this led to Biosite offering Enterprise software, Return meaning customers now purchase hardware, software and services together, allowing total oversight of projects across the whole company.

New 22 Exits inside out / spring edition 2021 Auction Technology Group (ATG) February 2020 A leading online platform for auctions across Europe and the United States

The team behind the deal

Sector On the board TMT Ed Wass

Deal type

Sale to PE Investment lead Jonathan Gregory

Return: “We are incredibly excited by this sale that will give us the resources to invest in 29% IRR better tools for auctioneers and accelerate investment

4.5x MM The Business The Realisation in marketing, which ATG’s mission is to be the global marketplace Mobeus fully exited its investment to TA Associates for we believe will bring a connecting bidders, businesses, collectors, consigners, an undisclosed sum. steady stream of new contractors, and consumers to an under-explored world online bidders. We are The Impact very grateful to Mobeus, curated by thousands of trusted auctioneer experts. The business was transformed into a high-tech provider which has been a long- The Original Deal of marketplace technology, expanding into new verticals term partner to ATG and has supported us in Following an initial £4.5 million investment from Mobeus and new geographies, driven by the consumer shift transforming the business in 2008, ATG branched out to online auctions. A further online, as well as its market leading technology and from its roots in publishing £4.5 million financed the acquisition of BidSpotter. strong brand recognition. to the high-tech platform it Following rapid growth, Mobeus partially realised is today.” The ATG sale generated a Money Multiple of 4.5x on its investment in 2014 to a secondary buyout by ECI cost of £9 million to the Mobeus VCTs, at a 29% IRR. John-Paul Savant Partners, retaining a significant holding. ATG, CEO

New 23 Exits inside out / spring edition 2021 Access-IS August 2020 Data capture technology for transportation and ticketing

The team behind the deal

Sector TMT Investment lead Chris Price

Deal type Sale to PE On the board Ed Wass

Return: “Mobeus has been 23.4% IRR a hugely supportive partner over the last 2.5x MM The Business The Realisation five years. It was Access’s innovative, miniaturised devices, such In 2020, Mobeus realised its investment in Access in a clear from the first as passport and ticket readers, enable the world’s sale to HID Corporation Ltd. a subsidiary of ASSA ABLOY, meeting that they were population to move around the planet and access the global leader in access solutions, which owns the completely aligned with the vision we had services quickly, safely and securely; a challenge the Chubb and Yale brands. for the business and, pandemic has made even more critical. Access is trusted The Impact with their help, we have by some of the world’s biggest brands, its hardware is Our investment has supported development into new achieved everything we present in more than 200 airports and over 100 million verticals, such as ID and security, and further expansion set out to do.” transactions are conducted daily through Access of its transport and ticketing solutions. The business devices. Guy-Franck Nakach professionalised operations and substantially increased Access-IS, CEO The Original Deal production capacity. Access nearly doubled revenue We invested £11 million into Access-IS, investing from £11.5m in 2015 to over £19m in 2019. alongside management for a significant minority stake. The sale represented a 2.5x Money Multiple on original cost and an overall IRR of 23.4%.

New 24 Exits inside out / spring edition 2021 Blaze Signs September 2020 Designs, manufactures, installs and maintains business signage

The team behind the deal

Sector Industrials On the board Eric Tung

Deal type “Mobeus’s investment provided the perfect Sale to PE synergy in having both one of the best known and highly respected sign production Return: companies in the UK and also a sign 13% IRR maintenance service of a similar calibre. Since 2.7x MM The Business The Realisation then, both companies Blaze Signs designs, manufactures and installs signage. Mobeus realised its investment in Blaze Signs via a have prospered, which It has a blue chip customer base, including retailers, such secondary buyout backed by Elaghmore Advisor LLP would not have been as Sainsbury’s and Pets at Home, and , such as in September 2020. possible without our shared longer-term Lloyds Banking Group and Metro . The Impact vision.” The Original Deal During the period of the Mobeus investment, Blaze Signs Mobeus invested in Blaze Signs in 2006. The following became a leading provider of signage and signage David Robertson year, Mobeus provided further funding to finance the maintenance services to the retail and banking industries Blaze Signs, Chair acquisition of Cygnia Maintenance Limited, which offers in the UK and now offers a genuine UK-wide complete signage maintenance services, to create a complete signage solution to its clients. signage solution. The sale delivered a Money Multiple of 2.7x to the Mobeus VCTs.

New 25 Exits inside out / spring edition 2021 Advantedge November 2020 Invoice finance solutions Buyout

The team behind the deal

Sector Financial On the board Services Guy Blackburn

Deal type Trade Sale Investment lead Jonathan Gregory

Return: “Mobeus was unique amongst the investors 30% IRR we met in being able The Business The Impact to both immediately 2.7x MM Advantedge Commercial Finance is a leading privately With Mobeus’s support the business grew strongly, grasp the key technical owned provider of invoice finance to UK SMEs looking with revenues increasing 2.4x and EBITDA doubling. dynamics of our sector, and bringing significant to access fast, flexible, and straightforward funding for Advantedge secured a substantially increased £100m expertise in supporting growth and working capital. syndicated funding line to support its ambitious growth and growing SMEs. The Original Deal plans; completed a rebrand; launched two new regional The whole team is In 2016, Mobeus invested £9 million to back the offices; and acquired Henry Howard Cashflow Finance, very excited about management buyout of Advantedge. which saw the business take on a new presence in continuing our rapid Wales and the South West region. growth trajectory.” The Realisation Mobeus sold its interest in Advantedge to eCapital Mobeus secured 30% IRR and a 2.7x Money Multiple David Tilling Corp. (“eCapital”), a North American based provider with this first exit from the current buyout fund. Advantedge, CEO of alternative financial solutions to businesses.

New 26 Exits inside out / spring edition 2021 Vectair November 2020 A leading supplier of air care and hygiene products

The team behind the deal

Sector Business On the board Services Dominic Draysey

Deal type Sale to PE Investment lead Jonathan Gregory

Return: “Vectair has become an established 22% IRR platform, set to achieve The Business The Impact accelerated growth 8.5x MM Vectair has delivered sanitary & scent solutions for over Since Mobeus first invested, the company has been hand-in-hand with its 30 years. Its product range covers air care and odour developed into a well-respected, international business, new partners. Our investment approach control, hand washing and skin care, surface care, positioning it for further investment from US-based prioritises long-term sanitary disposal and infant care. backers. Vectair has grown revenues by more than partnership; it’s great fourfold, notably driven by North American sales growth, The Original Deal to see that strategy and profits have increased eightfold over the period. Mobeus invested £1.1 million in Vectair in 2006. pay off for everyone with the Mobeus VCTs The exit generated an 8.5x Money Multiple return over The Realisation delivering an eightfold original cost for the Mobeus VCTs, after almost 15 years, A consortium of US investment funds, including Oxbow return for shareholders.” highlighting the value of patient capital. Industries and Arcspring, has acquired Vectair in a Clive Austin secondary buyout for an undisclosed amount. Mobeus Partner

New 27 Exits inside out / spring edition 2021 Bourn Hall January 2021 One of the UK’s leading providers of fertility services

The team behind the deal

Sector Healthcare On the board Ed Wass

Deal type

Sale to PE Investment lead Greg Blin

Return: “Infertility and IVF are deeply personal, so it’s 9% IRR incredibly important that Bourn Hall has a 1.6x MM The Business The Realisation strong family feel and Bourn Hall’s Cambridge clinic was founded in 1980 by Mobeus sold Bourn Hall to Triangle Healthcare Partners, a special connection Robert Edwards and Patrick Steptoe, the IVF pioneers a Canadian-based investor. They plan to grow Bourn Hall with both patients and whose work led to the birth of the first test-tube baby, into a global IVF brand. partners. We appreciate Louise Brown. Since then, Bourn Hall has helped over Mobeus’s support over The Impact 20,000 families. its investment term and At the time of the initial investment from Mobeus, Bourn we are pleased to have The Original Deal Hall had three clinics based in the East of England. With found new partners, Mobeus invested £3.5 million to support the geographic Mobeus’s assistance, a further clinic was opened. who also share those.” expansion of Bourn Hall in 2014. The sale represents a 1.6x Money Multiple on original cost. Mike Macnamee Bourn Hall, CEO

New 28 Exits inside out / spring edition 2021 Virgin Wines March 2021 One of the UK’s largest direct-to-consumer online wine retailers

The team behind the deal

Sector On the board Consumer Ed Wass

Deal type “We are delighted by the strong support we IPO have received from blue-chip institutional investors and that the Placing was significantly Market capitalisation oversubscribed. Our Admission to AIM provides the platform to £110 million execute our ambitious The Business The IPO growth plans, as we Virgin Wines works with its network of trusted suppliers Mobeus supported the of leverage our key strengths to continue to and winemaking partners from around the world to Virgin Wines on AIM. The offering was substantially take market share and source, design, blend and sell award-winning and largely oversubscribed, attracting strong interest from drive shareholder value. exclusive premium wines. These wines are sold through quality institutional investors. The Mobeus VCTs own We are very grateful for its WineBank and Wine Plan subscription schemes and approximately 36.1% of the issued Ordinary Shares. the excellent support on a pay-as-you-go basis. The Group also operates Mobeus has given us The Impact B2B and gift sales channels and recently expanded its over the last seven Virgin Wines now has the platform to execute its product offering to include carefully curated collections years and look forward ambitious growth plans, as it leverages key strengths of premium spirits and craft beers. to continuing that to continue to win market share and drive shareholder partnership.” The Original Deal value. Mobeus invested £8.7 million in Virgin Wines in 2013. Jay Wright Mobeus VCT Shareholders retain access to future Virgin Wines, CEO growth from this distinctive, direct-to-consumer business, set to benefit further from the shift to convenience.

New 29 Exits inside out / spring edition 2021 Parsley Box March 2021 The direct-to-consumer provider of ambient ready meals for the baby boomer+ demographic Growth

The team behind the deal

Sector Investment lead Consumer Joshua Henshaw

Deal type

IPO On the board Bob Henry

Market Capitalisation “Parsley Box was £84 million founded out of frustration in finding a The Business The Offering was oversubscribed, with strong interest meal solution for my Parsley Box delivers quality ambient meals directly to the from blue chip investors and retail customers. mother. The traditional UK’s growing baby boomer+ demographic. Customers meal delivery services The Impact we saw were both benefit from easier product storage, a better selection of Parsley Box has built an attractive platform to continue very expensive and meals and an on-demand service, contributing to a more its growth. Having realised a third of their equity holding, suffered from slow independent and healthier lifestyle. the Mobeus VCTs’ total return to date, based on Flotation delivery. Parsley Box The Original Deal price, represents a 4.2x Money Multiple, an IRR of has reinvented the service by offering next Having first backed this rapidly-growing business in c. 145% and a locked-in overall cash return of 1.4x. day delivery and a wide 2019, Mobeus participated in a £5 million funding round Moreover, the Mobeus VCTs continue to hold a range of meals.” earlier this year. substantial 13.7% of Parsley Box’s equity, allowing them Gordon Macaulay The IPO to participate in the company’s future growth potential. Parsley Box, Mobeus supported the Initial Public Offering of Parsley Co-Founder Box on AIM.

New 30 Exits inside out / spring edition 2021 Mobeus Equity Partners +44 (0)20 7024 7600 [email protected] about us mobeus.co.uk If you’ve reached a key moment in the life of your business and need investment to get to the next stage, we can help maximise your potential. We can provide funding of £2 - £15 million to UK SMEs across all sectors.

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What we Growth All investments Buyout Initial A strong and Funding requirement of ambitious £2m - £10m management £5m - £15m look for funding requirement team We partner with talented and Revenue run rate of Enterprise value determined UK Follow us on Twitter Connect on LinkedIn management teams £1m + p.a. headquartered £5m - £30m and growing quickly of companies with strong growth Issued by Mobeus Equity Partners LLP, of 30 Haymarket, London, potential. Here’s Proven positive Established, profitable SW1Y 4EX, registered in England & Wales number OC 320577, what we look for in product/service All business sectors authorised and regulated by the Financial Conduct Authority, number our close, long-term economics 456538. The material is for information only and does not constitue an £1m - £5m EBITDA offer to buy or sell an investment nor does it solicit any such invitation. relationships.

New 31 Exits inside out / spring edition 2021