NVM Private Equity’s (NVM) fund, NVM Private Equity Vintage III LP, has completed the management buy-out of Mobius Networks Limited (MNL), a mobile virtual network operator, providing data connectivity services for Internet-of-Things (IoT) and Machine-to-Machine (M2M) applications across healthcare, transport and retail sectors.
The investment from NVM will help to accelerate Mobius’ growth and drive continued development of its software and sales expertise.
Formed in 2004 and headquartered in Leicestershire, MNL has created an differentiated means of data provision that is highly secure and flexible whilst offering highly reliable connectivity and availability.
Customers include a host of local councils, regional and national transport providers and high-profile entities including Manchester Airport and the Highways Agency. Retail and industrial customers cover a range of household names including Google, IBM, Dunelm, Aldi and Siemens.
MNL is the second buy-out announced in as many weeks by NVM, following on from the MBO of Secure Retail, with both businesses having been acquired from similar shareholder groups. James Arrowsmith, Andy Leach and Liam May led the investment for NVM, with Leach and May joining the MNL board at completion.
Managing Director of Mobius Networks Doug Gilmour said: “Mobius Networks is delighted to be partnering with NVM. The opportunity to rapidly scale Mobius in the vast and vastly growing IOT and industrial internet market is compelling. The technical capability of the Mobius team and its value proposition is exceptional. This combined with the support and expertise of the NVM team, means that there are even more exciting times ahead for Mobius Networks.”
James Arrowsmith, Investment Partner of NVM Private Equity, said: “NVM is delighted to be backing Doug and the rest of the Mobius team. The company’s focus on high uptime, mission critical applications differentiates Mobius from the wider IoT market and we are pleased to be coming on board at such an exciting stage in the company’s development. As NVM’s third deal in the Midlands in recent weeks, this further demonstrates our continued commitment to the region.”