Mobeus portfolio company Master Removers Group (“MRG” or, the “Group”) has acquired Gentleman & a Van (“GAV”), adding a strong south-west London brand to its portfolio. The acquisition will increase the Group’s presence in the key Fulham-Clapham-Wimbledon triangle ahead of the autumn 2020 opening of MRG’s new, purpose-built storage facility, located just south of Wimbledon.
MRG is a brand-led specialist logistics, storage and removals business that counts Cate Blanchett, Pippa Middleton and the Archbishop of Canterbury as clients and comprises iconic brands including Aussie Man & Van and Anthony Ward Thomas.
MRG’s acquisition of GAV is its seventh add-on since Mobeus first invested in the Group as part of its initial deal in 2014. With the addition of GAV the Group now has almost 5,000 paid storage containers in situ, up by about 50% since the initial investment.
Last year, Mobeus backed a further deal at MRG, supporting Managing Director Tim Bloch in the next stage of the Group’s evolution. Proceeds from the deal locked in a positive return for the Mobeus-advised VCT funds, in addition to increasing their equity share substantially, making them the single largest shareholder in the Group.
Richard Babington, partner at Mobeus, who led the original MRG transaction for Mobeus and has sat on the Group’s board ever since, commented:
“MRG has been a very successful investment for Mobeus, expanding substantially through a number of add-on acquisitions and returning all of our original secured investment within 14 months of completion of the original deal. The acquisition of Gentleman & a Van brings a well-recognised SW London brand under the Group’s umbrella, as well as bringing the amount of paid storage in the Group up to a volume equivalent to almost half of the Albert Hall.”
“Although building new warehouses and good quality acquisitions take time, the culmination of this work by everyone is rewarding, not just because of the synergies achieved but also realising the plans made together and reaching another milestone in the ongoing development of the business.”Tim Bloch, MRG Managing Director