Technical support and maintenance of imaging equipment
Mobeus Equity Partners backed the MBO of Veritek Global, a provider of technical services to owners of imaging equipment.
Veritek employs 299 staff and has an annual turnover of c. £23 million.
Mobeus provided combined debt and equity finance that enabled the management team to complete an MBO from the founder shareholder and a corporate investor.
Mobeus provided the full funding package, investing £6.9 million.
Mobeus introduced management to Mobeus Operating Partner, Peter Shawyer, who joined Veritek as investing Chairman. Peter, who was Managing Partner at Deloitte, has significant experience of growing international outsourcing businesses and is well placed to help Veritek manage its international expansion from a strong base in Germany, Spain and Portugal.
Veritek is a business with significant European operations and was part-owned by a Japanese corporation. Mobeus was able to mobilise quickly and complete the transaction within two months of agreeing the Heads of Terms.
- Business Services
- Management Buyout
- July 2013
- Chris Price