Publishing and events business
Mobeus Equity Partners invested in the £4m management buyout of Faversham House, a leading environmental media business that publishes Europe’s largest environmental website www.edie.net.
Faversham was founded in 1960, employs 100 people and has annual revenues of c. £10m.
Family owned business in which some members wanted to exit and others wanted to take the business forward. Mobeus facilitated a change of ownership via an MBO with significant management rollover.
Mobeus invested c. £2m as a combined debt and equity package alongside £400k of vendor finance.
To supplement the team, Mobeus Operating Partner Bob Fairchild joined as investing Chairman and Jill Williams joined as Finance Director. Fairchild has helped achieve successful exits for all shareholders in a number of private equity backed businesses. Williams was previously FD of Tottel Publishing, a Mobeus-backed business that was successfully sold to Bloomsbury Publishing.
In a challenging publishing environment Mobeus brought its sector expertise to bear by being able to see through the headline trading performance to the opportunities Faversham’s digital platform had created.
- Management Buyout
- December 2010
- Chris Price