Mobeus Realises Investment In Motorclean
Mobeus has realised its investment in Motorclean, the leading automotive valeting business. We originally invested in the secondary buyout of Motorclean in 2011, from LDC, in order to scale a £20m regional business into a £50m turnover national group, through a combination of acquisition and growth.
In 2013, Mobeus led the acquisition negotiations and provided the funding to bring Motorclean together with Forward Valeting, another leading provider of cleaning and valeting services to the UK motor trade. The deal provided scale and the ability to service national contracts for the largest UK dealership groups.
Having successfully achieved our initial growth target, we determined the time was now right to realise the investment back to management, which has been incrementally building its ownership position since the original LDC buyout 12 years ago. The transaction was funded with substantial support from HSBC UK.
Dave Warren, Managing Director of Motorclean, said, “Mobeus has been a supportive and straightforward business partner throughout the period of its investment and most notably during the acquisition of Forward Valeting. We have always been able to have an open conversation with the Mobeus team, which has culminated in the negotiations that have enabled the Directors to satisfy a long held aspiration to own 100% of Motorclean. We are really excited about, and focused on, the next phase of the business’s development.”
Chris Price, Mobeus Partner, added, “It has been a pleasure to work with Dave, John and Paul over the last seven years. We wish them and the team at Motorclean every success during the next phase of growth under their independent ownership.”
The capital for this investment was provided by the Mobeus-advised VCTs.
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