Mobeus VCTs’ Exits Trailblaze
The Mobeus VCTs continue a hugely successful exit run in 2020 with the announcement of their latest sale; the fourth this year.
Mobeus 2020 realised gains to VCT shareholders move up to £60 million*: from the sales of Biosite, Access-IS, ATG and now Blaze.
The overall multiple of cash proceeds over original cost for these investments is 2.8x.
Mobeus has realised its investment in the Blaze Signs group via a secondary buyout backed by Elaghmore Advisor LLP. The sale represents a return of 2.6x cost to the Mobeus VCTs.
Mobeus invested in Blaze Signs, a designer, manufacturer and installer of signage, in 2006. The following year, Mobeus provided further funding to finance the acquisition of Cygnia Maintenance Limited, which offers signage maintenance services, to create a complete signage solution for its blue chip customer base. This comprises retailers, such as Sainsbury’s, Iceland, Pets at Home, and banks such as Lloyds Banking Group and Metro Bank.
During the period of the Mobeus investment, the Blaze group became a leading provider of signage and signage maintenance services to the retail and banking industries in the UK and now offers a genuine UK-wide complete signage solution to its clients.
Eric Tung, Mobeus Partner, who sat on the Blaze Signs board, commented:
“The challenge faced by the retailing and banking industries in the UK in recent years is well known; the COVID-19 pandemic has only exacerbated the existing challenges. It is a testament to the management and employees of the Blaze Signs group that Blaze has continued to prosper. We wish them every success for their future.”
Corporate Finance advice to the shareholders of Blaze Signs group was provided by Arrowpoint Advisory LLP. Legal advice was provided by Shoosmiths LLP.
*Over the life of the four investments, returns from them to the Mobeus VCTs total £60m in aggregate.
07 September 2020
“Mobeus’s investment in Blaze in 2006, followed by a further investment in 2007 when Blaze acquired Cygnia, provided the perfect synergy in having both one of the best known and highly respected sign production companies in the UK and also a sign maintenance service of a similar calibre. Since then, both companies have prospered, which would not have been possible without Mobeus’s investment and our shared longer term vision.”
David Robinson, Chair of Blaze Signs