Rab delivers return of c. 7.0x

28 November 2022

Mobeus VCTs have sold their equity stake in outdoor apparel manufacturer Equip Outdoor Technologies UK Ltd (Equip), realising a 6.9x money multiple to date on its original investment of £4.45 million.


Founded in 1993, Equip’s portfolio includes two technical outdoor brands; Rab, which it has owned since 2003, and Lowe Alpine, which it acquired in 2011.

The Mobeus VCTs initially invested in Equip in 2011 in a deal lead by Ashley Broomberg to support the business’ acquisition of Lowe Alpine.

The business has seen rapid growth in recent years, with Rab gaining market share in many markets and Equip increasing its activity in the US.

As a result, Equip increased its turnover from £61 million in the year to January 2021 to £97 million in the year to January 2022, while EBITDA grew from £10 million to over £18 million over the same period.