Automated Systems Group
Independent supplier of printer and copier services
Mobeus VCT Fundraising
Automated Systems Group is a leading provider of printing and copying solutions to SMEs and the education sector. ASL was founded in 1991 and manages over 5,000 customers from its nine offices across East Anglia, the Midlands, London and the South of England.
Mobeus backed ASL in 2010, as a buy-and-build platform in a large, mature but fragmented industry. Supported by Mobeus, ASL’s management team pursued an M&A programme, as well as achieving organic growth, to consolidate its market position. It has completed ten acquisitions, most recently of ICA in February 2018 and of Geerings in November 2018. In June 2019, we sold our investment in a secondary buyout backed by Primary Capital Partners.
ASL more than trebled EBITDA over the investment period and now employs 158 people (up from 60 in 2010). The sale to Primary represents a 2.2x money multiple on the Mobeus total investment of £9.7 million.
“Mobeus has been a hugely supportive, strategic and flexible business partner throughout its investment term. Having executed a number of successful transactions, and with an active M&A environment, this was the right time for ASL to find a new source of equity finance, enabling us to compete with the other buy-and-build platforms in the market.”
Mark Garius ASL CEO