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Mobeus gets more than 20% IRR from ATG Media part-exit

1 Jul 2014

exitMobeus has part-exited its investment in webcast and timed online auction platform ATG Media via a secondary management buyout to ECI Partners for an IRR of more than 20 per cent.

ATG operates the-saleroom.com, i-bidder.com, BidSpotter.co.uk and BidSpotter.com as well as Antiques Trade Gazette.

Mobeus funded the management buyout of ATG in October 2008 and provided additional funding in April 2013 to support the acquisition of BidSpotter.

The firm said the cash proceeds from the deal have provided an IRR of over 20 per cent and that it will maintain a significant minority stake in the business.

Mobeus partner Mike Walker said, “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.”

Earlier this year Mobeus announced three new hires including the appointment of Richard Babington as its new investment director.

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