Mobeus gets the green back
Mobeus Equity Partners (“Mobeus”) today announces the sale of its portfolio company Monsal Holdings (“Monsal”) to the General Electric Company (“GE”).
Based in Mansfield, Monsal is one of the UK's leading Advanced Anaerobic Digestion (“AAD”) and integrated biogas-to-energy businesses.
The company is a major supplier of technology for AAD infrastructure projects in the water and waste markets, providing a complete technology package to utilities, waste management companies and energy developers enabling them to turn waste into renewable energy.
Mobeus originally backed the management buyout of Monsal in 2007 and provided additional capital to the business in two subsequent rounds of funding in 2009 and 2011. The disposal to GE results in an overall 1.9x cash return to the Mobeus advised VCTs.
Eric Tung, Partner, comments:
“Mobeus would like to thank Monsal’s management team for its hard work producing a return to all stakeholders of the business. We consider ourselves to be supportive investors and it is particularly pleasing that we were able to provide funding for the various development stages of the business and, as a result, to have secured a sound financial return for our investors. Mobeus wishes Monsal, its management and staff all the best for the future with GE.”
Aidan Cumiskey, Managing Director of Monsal, comments:
“Since Mobeus’s investment in Monsal, a combination of the effects of this capital intensive sector, the technology development opportunity and the cyclical nature of water industry infrastructure investment programmes created a requirement for a flexible funding partner so that our business could reach its full potential. Mobeus assisted the business through the various development phases with additional funding and Monsal has subsequently firmly established itself with a number of significant references for the blue chip water and waste markets. We want to thank Mobeus for their invaluable support and now look forward to being part of the GE family.”