Mobeus manufactures another great exit

Mobeus manufactures another great exit

Mobeus Equity Partners (“Mobeus”) has partially realised its investment in VSI Limited by selling one of VSI’s two operating businesses, MachineWorks Software Limited (“MachineWorks”), to Westec Holding Company Ltd.   The transaction value has not been disclosed.

Mobeus backed the management buyout of VSI in 2006.  Based in Sheffield, MachineWorks is the leading developer of simulation and verification toolkit technology used in Computer -Aided Manufacturing.  MachineWorks’s software product simulates machining and helps manufacturers to avoid expensive production mistakes which could cause expensive raw materials to be scrapped or production runs to be disrupted.

Eric Tung, partner at Mobeus and non-executive director of MachineWorks, comments:

“We are very proud of our association with MachineWorks which is an excellent example of the development of a world-class technology company in the UK.   During our period of ownership, management has continuously innovated and invested to maintain its market leading position and to expand its product offering.

MachineWork’s expertise is now recognised around the world and Westec’s acquisition is a further validation of MachineWorks’s technology. 

The investment has provided attractive returns to Mobeus managed Venture Capital Trusts”

VSI’s other business, Lightwork Design Limited (“Lightworks”), will continue under the ownership of management and Mobeus Advised VCTs.  Lightworks’s software product is used in many industries, in particular, the architectural sector, to produce photo-realistic images as part of the product design process.

– Ends –

Issued by Mobeus Equity Partners LLP, of 30 Haymarket, London SW1Y 4EX, registered in England & Wales number OC320577, authorised and regulated by the Financial Conduct 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.

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