Mobeus accepts a bid on ATG Media

The painting is a Brian Shields and entitled ‘B****r Off, Can't You See I'm Busy'. It was sold via the-saleroom.com at Morphets 6th March 2014.
The painting is a Brian Shields and entitled ‘B****r Off, Can't You See I'm Busy'. It was sold via the-saleroom.com at Morphets 6th March 2014.

Mobeus Equity Partners (‘Mobeus’) has part realised its investment in ATG Media (‘ATG’), a global pioneer of webcast and timed online auction platforms through a secondary MBO to ECI Partners (‘ECI’).  ATG operates the-saleroom.com, i-bidder.com, BidSpotter.co.uk and BidSpotter.com as well as publishing the antiques industry bible, Antiques Trade Gazette.  Mobeus and ECI ATG’s growth has been driven by the continued shift of bidders online and ATG’s ability to provide auctioneers with a larger bidder base.   

Mobeus financed the management buyout of ATG in October 2008 and provided additional funding in April 2013 to support the acquisition of BidSpotter.  Mobeus is realising part of its investment, the cash proceeds of which provide a locked-in IRR in excess of 20% p.a., whilst maintaining a significant minority stake in the business to provide additional returns.

Mike Walker, Partner at Mobeus said:

“Anne and her team have done an excellent job growing the business, expanding into new geographies and verticals.  We are particularly proud of our success with ATG – we backed the business in the teeth of the 2008-9 financial crisis when many other investors shut up shop.   This is a tremendous UK growth story– the business has more than doubled over a very challenging economic period. That is all credit to the strength of the team at ATG.   I would like to welcome ECI on board.  We look forward to working with management and ECI to continue ATG’s impressive growth.”

– 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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