Entanet

Wholesale voice and data communications provider

Investment highlights

The Business

One of the UK’s leading wholesale communications infrastructure providers, Entanet uses third party networks to deliver a wide range of connectivity and telecommunication products and services to small business customers.

The Deal

We originally backed CEO Elsa Chen and her management team in the MBO of Entanet in February 2014, committing a total of £9.5m and introducing experienced Chairman Richard Atkins to the Board. In 2017, we realised our investment in a £29m sale to CityFibre Infrastructure Holdings plc.

The Impact

Since the original investment, the Entanet management team worked with us to refine their business model and introduce new products and services. As a result, annual revenues grew from £27m to £36m at the time of the sale. The deal with CityFibre delivered an initial return of 2.5x for Mobeus-advised funds, with potential for this to increase to in excess of 2.7x over the next two years. Initial IRR to shareholders was 38.7%, potentially increasing to 40.9%.

Key facts

Sector

TMT

Fund

Mobeus VCTs

Deal type

Management buyout

“Mobeus brought a wealth of experience and have shown great support to Entanet in the last three years. The relationship they have built with us is deeper than that of an investor. I see Mobeus as a true business partner, which supported management 100% in doing what is right for the business. This is such a critical part of our success today.”

Elsa Chen

Entanet, CEO

The team

If you’re facing a similiar challenge, why not contact one of the team behind this investment

Ashley has been with us since 2001 and was one of the Partners who set up Mobeus when we completed a management buyout from the Matrix Group

Find out more

Ashley Broomberg

Managing Partner