LONDON, December 7, 2012 /PRNewswire/ --
Mobeus Equity Partners ("Mobeus") has sold its longstanding investment in Kent-based Brookerpaks Limited, a supplier and distributor of garlic and other vegetables to UK supermarkets, back to management in a deal that has delivered a 26% IRR over a 10 year period to the Mobeus advised Income & Growth VCT. The investment generated total returns of nearly £2 million from a £0.5m investment.
Mobeus originally backed the MBO of Brookerpaks from Harrington Food Group in 2002. Despite Brookerpaks operating in a competitive market and facing pricing pressure from the purchasing power of the multiples, the company has maintained a solid and consistent financial performance throughout the ten year investment period. It has achieved this by building strong partnerships with garlic growers which ensure that it can achieve year round supply and deliver consistent quality to its customer base.
Brookerpaks joins a long list of recent Mobeus successful exits. It also marks a third excellent realisation by Mobeus of a food sector investment in recent years, following previous successes with PastaKing and Ministry of Cake.
John Brandon, Mobeus Portfolio Director, comments: "Not every company can be a global superstar. Brookerpaks proves, however, that there are solid, salt of the earth SMEs operating across the UK that can deliver very attractive returns for VCT investors. We are grateful to a strong and talented management team for delivering an excellent performance over the ten year life of the investment. The outlook for the company remains bright and we wish it and the team continued success."
Issued by Mobeus Equity Partners LLP, of 30 Haymarket, London, SW1Y 4EX, registered in England & Wales number OC 320577, authorised and regulated by the Financial Services Authority, number 456538. This material is for information only and does not constitute an offer to buy or sell an investment nor does it solicit any such invitation. The information contained in this email is believed to be accurate at the date of publication but no representation or warranty stated or implied is made or given by any person as to its accuracy or completeness and no responsibility or liability is accepted for any such information or opinion.
Mobeus Equity Partners LLP ['Mobeus']
Mobeus is a leading UK VCT Manager with a focus on MBO transactions. Mobeus advises four Income & Growth VCTs with approximately £150 million Funds under Management.
Its recent transactions are:-
Investment Deal (GBPm) Business/Location Tessella 5.6 Technology based consultancy Abingdon services EMaC 6.0 Service plans for the motor trade Crewe Equip Outdoor 4.5 Branded outdoor equipment and Technologies clothing Alfreton Motorclean 6.0 Vehicle cleaning and valet services Basildon
Cost Proceeds Exit (GBPm) (GBPm) Business/Buyer Location Camwood 0.5 2.0 IT services Management London Iglu.com 4.3 11.1 Online ski Growth London and cruise Capital travel agent Partners DiGiCo 4.6 20.5 Manufacturer Isis Chessington, Surrey of digital sound mixing consoles AppDNA 0.5 16.0 Application Citrix London management software Original 1.0 4.2 Manufacturer LDC Hayes, Middlesex Additions of beauty products
For more information, visit http://www.mobeusequity.co.uk
For further information please contact:
Laura Marsh - +44-(0)20-7024-7617
SOURCE Mobeus Equity Partners LLP