Polestar conducted financial due diligence for Mobeus Equity Partners on Tessella Ltd, an Abingdon-based technology company providing science-powered technology and consulting services to a range of national and international clients.
Mobeus Equity Partners (Mobeus) has backed the £18 million management buyout of Tessella Ltd.
This was Mobeus’ first transaction since the team announced its own MBO from Matrix Group. Mobeus Operating Partner, Steve Curl, joins Tessella as investing Chairman and the company’s founder, Kevin Gell, remains on the board in a non-executive capacity. Guy Blackburn and Tom Chaloner will join Tessella’s board to represent Mobeus.
Guy Blackburn led the investment for Mobeus and comments:
“The excellent work carried out by Charles and his team confirmed our view that Tessella is a world-class UK technology business and a great example of the type of company that Britain is capable of producing. Tessella employs very talented people with excellent scientific and academic credentials to provide very high quality, specialist design and problem solving services on a global basis. Mobeus is delighted to have backed the existing management team in their MBO and we look forward to supporting Tessella’s further international expansion.”
