Gresham House acquires Mobeus Equity Partners VCT arm as profit and income return to form

Sarah Ing appointed iNED

Gresham House is set to acquire the VCT business of Mobeus Equity Partners for an initial consideration of £24m, to be raised through a placing.

A further consideration of up to £12.1m will be payable over a three-year period, subject to the "achievement of certain criteria". Four VCT contracts will be purchased from Mobeus, including Mobeus Income & Growth VCT, Mobeus Income & Growth 2 VCT, Mobeus Income & Growth 4 VCT and The Income & Growth VCT, which share a combined AUM of £369m. H1 2021 results round-up: Tilney S&W AUM hits £55bn as profits surge The Mobeus VCT boards have unanimously approved the transaction. It will be funded though a placing of approximately £40m, including a £20m cash placing of 2,197,802 ordin...