Mobeus Equity Partners realised its investment in DiGiCo Europe through a sale to a new professional audio group backed by Electra Partners.
In 2007, Mobeus backed the MBO of DiGiCo, a market-leading designer of digital sound-mixing consoles, investing £4.6m as a combined debt and equity package. Mobeus achieved a partial realisation in December 2011 through a £50m secondary buy-out to ISIS Equity Partners.
Following the original transaction, the business has invested heavily in R&D, creating a highly acclaimed new product range. The business demonstrated strong and consistent growth. Turnover grew three-fold from £8m in 2007, when Mobeus first invested, to £24m in 2013.
DiGiCo underwent a tertiary buyout funded by Electra Partners.
The investment returned in excess of £25m in cash over the life of the investment to Mobeus advised VCTs. The return equates to a 5.5x multiple of Mobeus’ original investment, a cash IRR of 45%.