Mobeus delivers 4.4x MoC and 64% IRR on sale of Access Partnership to Mayfair Equity Partners

Mobeus has completed the sale of Access Partnership (‘Access’).

The business has been sold to Mayfair Equity Partners (‘Mayfair’), a dedicated consumer and technology focused private equity investor. This is the third exit from Mobeus Equity and delivered 4.4x MoC and 64% IRR return for the Mobeus fund.

Mobeus invested £13m in Access founder and CEO, Greg Francis, and his team in November 2019. At that time Access employed 57 people and generated revenues of £11m per annum.

With Mobeus’s backing, Access and its team have grown both organically and through acquisition. During the investment term, in addition to a £7m refinancing, Mobeus helped Access to complete two bolt-on acquisitions in Singapore, adding c£1.5m to profits.

The result is a business that now employs 120 people, is forecast to generate revenues in excess of £25 million in the current year, and is positioned to continue this impressive level of growth.

Mobeus partner, Guy Blackburn, said: “Access is a classic case study for Mobeus. We backed a world class Founder and his team, then worked with them to unlock Access’s potential by building a complete management structure, scaling sales and marketing, improving systems and completing two acquisitions…

“…All whilst weathering the COVID pandemic. EBITDA has more than doubled since our investment. We are delighted with what the team at Access has achieved - and the outcome for our investors.”

Greg Francis, Founder and CEO of Access Partnership, commented: “Even the best partnerships come to an end. Mobeus has been ever pragmatic and solution-focused, whilst always challenging us, making us more focused and effective.

“Mobeus supported our M&A ambitions and backfilled talent gaps when needed - but, importantly, also let us get on with running the business day to day. The growth we have experienced together is great testimony to the power of the right management - private equity partnership.”

The Access shareholders, including Mobeus, were advised on the sale by Oliver Vaughan and Arthur Callaghan at Houlihan Lokey (corporate finance) and Tim Hewens of Osborne Clarke (legal).