Matrix reloads as Mobeus
Matrix Private Equity Partners has completed its MBO from Matrix Group and is re-launching as a fully independent private equity firm named Mobeus Equity Partners (“Mobeus”).
The spin out, first announced in January, sees the firm’s partners buying out the 50% shareholding of its parent and relocating its team of 20 staff and associates to new offices at 30 Haymarket in London’s West End. The new website is www.mobeusequity.co.uk.
“Our new name and logo are based on the Möbius strip; a clever mathematical shape that represents continuity. We wanted a name that reflects the longstanding stability of our team and our evergreen investment funds,” said Mobeus Managing Partner, Mark Wignall.
Mobeus has £150 million Venture Capital Trust (“VCT”) funds under management and will continue with the strategy of investing on average £5 million into MBOs of UK- based companies making between £1million and £3 million of profits.
The firm has had a busy 12 months investing £16 million into three companies : Motorclean, EMaC and Equip Outdoor Technologies. It expects to announce its first new investment under the Mobeus brand later this month.
Mobeus has also had a very strong year for exits, clocking up five sales : Original Additions, AppDNA, DiGiCo, Camwood and Iglu.com, generating £53 million proceeds from just £11 million of cost.
Mobeus has also just closed its annual VCT fundraising at £15 million. As part of this transaction, the family of Matrix Income & Growth VCTs will be renamed Mobeus Income & Growth VCTs.