Mobeus makes another move
Mobeus Equity Partners ("Mobeus") is pleased to announce that it has provided a combined debt and equity package to support the £25m buyout of Ward Thomas Group (“WTG”, or “the Group”), a brand-led specialist logistics, storage and removals business.
The Group comprises three divisions:
• Anthony Ward Thomas Master Removers (http://ward-thomas.co.uk/) - a market leader in large, domestic removals and storage operating in high-end central London boroughs;
• Aussie Man & Van (http://aussiegroup.co.uk/) - a well-known brand in smaller domestic removals and storage across the wider London market; and
• Bishopsgate Specialist Installations (http://www.bishopsgate.co.uk/) - a business undertaking specialist storage, delivery and installation of sensitive or valuable items.
Founded in 1985, the Group has annual revenues in excess of £20m and employs more than 200 staff across a number of UK sites. Management is planning to continue its successful buy and build strategy, with a number of potential acquisitions already under consideration.
The transaction represents Mobeus’s fifth investment in 2014, taking committed capital invested to £28m, following the MBOs of Tharstern and Entanet, the BIMBO of CGi and the growth capital investment into Bourn Hall.
Anthony Ward Thomas said: “Having had discussions with several potential suitors, Mobeus immediately stood out as people who were quick to understand our business, the way we think and operate and came with a clear objective to be supportive of our future plans.”
Richard Babington, Investment Director at Mobeus, commented:
“We are delighted to back an experienced and successful team who have established a group of real scale, having grown Bishopsgate into a national operator and developed Anthony Ward Thomas Master Removers and Aussie Man & Van into prominent removals and storage brands. We look forward to working with Anthony Ward Thomas, Charles Rickards and the entire team as they continue to build on the business’s outstanding reputation for high service quality.”