Mobeus backs £25m Ward Thomas buyout

Friday, 12th December 2014

Sourced from Insider News - follow link to original article

Ward Thomas Group was founded in 1985 and has annual revenues in excess of £20m. It employs more than 200 staff across its three divisions: Anthony Ward Thomas Master Removers, Aussie Man & Van and Bishopsgate.

The first two companies primarily operate in the London market, but Bishopsgate provides specialist storage, delivery and installation of sensitive or valuable items at four sites across the UK, including its Royal Wootton Bassett base.

Richard Babington, investment director at Mobeus, said: “We are delighted to back an experienced and successful team who have established a group of real scale, having grown Bishopsgate into a national operator and developed Anthony Ward Thomas Master Removers and Aussie Man & Van into prominent removals and storage brands.”

The transaction represents Mobeus’ fifth investment in 2014, taking committed capital invested to £28m.

Mobeus was advised by Burges Salmon (legal), HW Corporate Finance (financial due diligence), Fairgrove Partners (commercial due diligence), and PwC (tax).

The management team were advised by Flying Buttress Partners (corporate finance) and Sherrards Solicitors (legal).

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