Corporate partner Jonathan Leigh-Hunt and associate Fran Spooner advised Mobeus Equity Partners on the sale of its interests in analytics software services and consulting company Tessella Holdings to Altran Group, a French engineering consultancy company.
Mobeus originally backed Tessella in 2012, when it invested a combined debt and equity package to back the management buy-out of the business. Tessella was founded in 1980 in Oxfordshire and has become a global business. It opened its first international office in The Netherlands in 2001, and launched in the US in 2003, where it now operates three offices. In 2011, Tessella received an award for its work on preserving the integrity of digital information over long periods of time, irrespective of numerous changes in technology. This data archiving business, called Preservica, has been carved out of the sale to Altran Group, to be retained and developed by Tessella’s existing shareholders, including Mobeus.
This exit, Mobeus’s eighth in less than two years, sees Mobeus generate a good return on the deal while retaining an investment in the Preservica data business.
Guy Blackburn, Portfolio Director at Mobeus, commented “Jonathan and his team were very responsive and professional, in providing pragmatic, commercial advice to help ensure a timely completion of this successful exit for Mobeus.”