Focus keeps treating Mobeus investors
Image provided by Image Source, a former Mobeus investee company (www.imagesource.com)
Mobeus is pleased to announce that the highly-rated management team of Focus Pharmaceuticals Limited (“Focus”) continues to deliver results: generating further value from the core investment as well as being valued members of our Alumni network.
Focus, a leading supplier of niche generic pharmaceuticals in the UK, was sold in October 2014 to Cinven-backed Amdipharm Mercury group. The company was sold for upfront consideration of £50 million, with deferred consideration and an earn-out of up to £20 million in addition to this.
Mobeus Advised VCTs have now received further proceeds £1.5 million of additional proceeds from the first phase of the earn-out bringing the total cash return to £13.9 million. The overall investment has, to date, returned a 4.3x multiple of cost.
Ashley Broomberg, Partner, says: “The success of the investment was down to backing the right people but also putting in place a funding structure that ensured a strong alignment of interest between the management team and Mobeus. This is demonstrated by the fact that Mobeus is fully participating in the earn-out and benefiting from management’s success in the enlarged entity. We are pleased that the Finance Director of Focus is now working with Mobeus as a valued member of our Alumni network. Together we are looking for further opportunities in the sector and we greatly value his ability to originate transactions and provide value-added input going forward”.
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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.