Mobeus Backs Expansion Of Geotech With £14m Investment
Investment supports high growth plan to roll out Geotech’s patented soil stabilisation system, which delivers compelling cost savings and environmental benefits to infrastructure projects.
Geotech is a fast growing, pioneering specialist in ground stabilisation services for construction and infrastructure projects. Its unique and patent-protected “Geobind” system strengthens ground for temporary and permanent works in a fraction of the time of traditional methods
As a result, Geobind delivers significant environmental, cost and programme benefits to main contractors which are rapidly adopting it as a preferred solution for the construction of access roads, highways, car parks and commercial buildings.
With Mobeus’s investment, Geotech aims to materially increase its share of the c. £1bn soil stabilisation market in the UK.
Geotech was established in 2014 by serial entrepreneur Bill Hinge and has been run by Hinge alongside fellow directors Robin Apperley and Dominick Holland. As part of the transaction, Mobeus introduced Tim Read and Rex Orton, who have joined the board as Chairman and Finance Director respectively. Read was previously CEO of Mobeus portfolio company TJ Brent and subsequently Commercial Director of May Gurney plc, and brings with him considerable experience in the contracting industry. Orton is the former Finance Director of Latchways Plc, a world-leading manufacturer of fall protection equipment.
Chris Price led the deal for Mobeus, supported by Danielle Garland and Dominic Draysey. He said, “With the right support and investment in place, Geotech has a major opportunity to continue its rapid growth and disrupt the stabilisation market with its proprietary product. No major infrastructure project can afford to ignore the compelling environmental and cost savings Geobind delivers.”
Mobeus was introduced to the opportunity by Andy Coghlan of WKCF. Advisers on the transaction included Fairgrove Partners (Commercial DD), Wilson Partners (Financial DD) and StrattonHR (Management DD). Mobeus’s legal representatives were Osborne Clarke and management’s legal representatives were PDT Solicitors.
12 April 2018
“We have seen exceptional growth over the last two years, with our customers fully recognising the benefits of Geobind. The recent patent award, covering our Geobind system, highlights the uniqueness of what Geotech is undertaking within the stabilisation market. We are very happy that Mobeus shares our vision for Geotech, and this investment will enable us to take Geobind’s significant commercial, programme and environmental benefits to many more projects across the UK.”