Focus keeps treating Mobeus investors

Mobeus is pleased to announce that the highly-rated management team of Focus Pharmaceuticals Limited (“Focus”) continues to deliver results: generating further value from the core investment as well as being valued members of our Alumni network.  

Focus, a leading supplier of niche generic pharmaceuticals in the UK, was sold in October 2014 to Cinven-backed Amdipharm Mercury group. The company was sold for upfront consideration of £50 million, with deferred consideration and an earn-out of up to £20 million in addition to this.  

Mobeus Advised VCTs have now received further proceeds £1.5 million of additional proceeds from the first phase of the earn-out bringing the total cash return to £13.9 million.  The overall investment has, to date, returned a 4.3x multiple of cost.

Ashley Broomberg, Partner, says: “The success of the investment was down to backing the right people but also putting in place a funding structure that ensured a strong alignment of interest between the management team and Mobeus.  This is demonstrated by the fact that Mobeus is fully participating in the earn-out and benefiting from management’s success in the enlarged entity.  We are pleased that the Finance Director of Focus is now working with Mobeus as a valued member of our Alumni network.  Together we are looking for further opportunities in the sector and we greatly value his ability to originate transactions and provide value-added input going forward”.