Services to the fine art and antiques industry
Mobeus VCT Fundraising
ATG is a global pioneer of webcast and timed online auction platforms. Its sites include art and antiques portal, the-saleroom.com.
We invested £4.5 million in October 2008 to finance the MBO of ATG from Daily Mail & General Trust plc. In April 2013, we provided an additional £4.5m to enable ATG to acquire US-based company BidSpotter. In 2014, we partially realised our investment in ATG Media through a secondary MBO.
ATG consistently traded ahead of investment plan. Revenues have more than doubled since the original investment and the online activities of the business have grown rapidly.
In June 2014, ATG was sold in a secondary MBO to ECI Partners in a transaction in which Mobeus rolled over a significant proportion of its holding to invest alongside ECI to participate in the future growth of the business.
Mobeus realised cash proceeds as part of the deal, which have provided an IRR in excess of 20% at June 2014 to the Mobeus VCTs, whilst maintaining a significant minority stake.