M&A Deal Summary

Primary Capital Acquires ASL Group

On January 1, 2019, private equity firm Primary Capital acquired business services company ASL Group from Mobeus Equity Partners

Acquisition Highlights
  • This is Primary Capital’s 4th transaction in the Business Services sector.
  • This is Primary Capital’s 29th transaction in the United Kingdom.

M&A Deal Summary

Date 2019-01-01
Target ASL Group
Sector Business Services
Buyer(s) Primary Capital
Sellers(s) Mobeus Equity Partners
Deal Type Secondary Buyout

Target

ASL Group

Cambridge, United Kingdom
ASL Group is an independent managed-office services provider, spanning print, comms, and IT infrastructure services and working with over 5,000 customers nationally from a network of 9 offices. ASL Group was founded in 1991 and is based in Cambridge, England.

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Buyer(S) 1

Buyer

Primary Capital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 700M GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Primary Capital is a private equity firm focused on management buyouts and buy-ins of mid-market companies with an enterprise value of £20 - £100 million. Primary looks for opportunities across Europe but concentrates primarily on businesses located in the UK and Germany. The Firm looks to invest £10 to £44 million of equity or equity-related capital per transaction. Target sectors include consumer products/services, business & support services, financial services, IT services, software, and industrial products/services. Primary was formed in 1994 and is based in London.


DEAL STATS #
Overall 31 of 33
Sector (Business Services) 4 of 4
Type (Secondary Buyout) 3 of 3
Country (United Kingdom) 29 of 31
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-09 Esteem Systems

Wetherby, United Kingdom

Esteem Systems Ltd. is a managed services provider for IT infrastructures. Esteem provides services to manage our customers’ entire IT infrastructures from servers and desktops to applications, data and networks. With a 30-year track-record, Esteem Systems brings a compelling and complementary portfolio in Private Cloud, Data Management, Desktop, and Managed Services, and has become a strategic infrastructure and services partner in public and private sector with significant traction in Local Government, Retail, Higher Education, Legal, Health, and Energy.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-01 Paperchase Products

London, United Kingdom

Paperchase Products Ltd. is a provider in design-led stationery, cards, and gift-wrap. The company designs much of its own product range and new collections are released every few weeks. Paperchase Products was established in 1968 and is based in London, United Kingdom.

Sell -

Seller(S) 1

SELLER

Mobeus Equity Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Mobeus Equity Partners is a generalist investor in UK-based companies. Mobeus looks to invest between £2 and £20 million in a variety of transaction situations. These include MBOs, secondary buyouts, debt financings, shareholder liquidity needs, and recapitalizations. Mobeus generally targets high growth, profitable (£1 to £5 million) businesses with sustainable competitive advantages. Mobeus is based in London.


DEAL STATS #
Overall 32 of 48
Sector (Business Services) 8 of 11
Type (Secondary Buyout) 7 of 11
Country (United Kingdom) 32 of 47
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-30 Kudos Innovations

Oxford, United Kingdom

Kudos Innovations is a provider of an online platform accelerating the reach and impact of research. Kudos Innovations was founded in 2014 and is based in Oxford, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-10 Plastic Surgeon

Devon, United Kingdom

Plastic Surgeon Ltd. is a provider of quality, long-lasting repairs to any hard surface, including ceramic, UPVC, brick, stone and glass, in diverse industries from house build, through construction and insurance, to facilities management. Plastic Surgeon Ltd. was founded in 1988 and is based in Devon, United Kingdom.

Sell -