Mobeus sells Access Partnership to Mayfair
Mobeus has completed the sale of Access Partnership, a technology public policy advisory firm whose consultants deliver service and advice to global clients.
The business has been sold to Mayfair Equity Partners, a consumer and technology-focused private equity investor.
This is the third exit from Mobeus Equity Partners IV LP and delivered 4.4x MoC and 64% IRR return for the Mobeus fund. Mobeus backed Access Founder and CEO, Greg Francis, and his team in November 2019, investing £13 million. At that time Access employed 57 people and generated revenues of £11 million per annum.
With Mobeus’s backing Access and its team have grown both organically and through acquisition. During the investment term, in addition to a £7 million refinancing, Mobeus helped Access to complete two bolt-on acquisitions in Singapore, adding c. £1.5 million to profits. The result is a business that now employs 120 people, is forecast to generate revenues in excess of £25 million in the current year and is positioned to continue this impressive level of growth.
Mobeus Partner, Guy Blackburn, said: “Access is a classic case study for Mobeus. We backed a Founder and his team, then worked with them to unlock Access’s potential by building a complete management structure, scaling sales and marketing, improving systems and completing two acquisitions – all whilst weathering the COVID pandemic. EBITDA has more than doubled since our investment. We are delighted with what the team at Access has achieved – and the outcome for our investors.”
Greg Francis, Founder and CEO of Access Partnership, commented: “Even the best partnerships come to an end. Mobeus has been ever pragmatic and solution-focused, whilst always challenging us, making us more focused and effective. Mobeus supported our M&A ambitions and backfilled talent gaps when needed – but, importantly, also let us get on with running the business day-to-day.
The growth we have experienced together is great testimony to the power of the right management – private equity partnership.”