GE targets Mansfield's Monsal for renewable energy technology

The sale of the business is a win for mid-cap private equity firm Mobeus who is making around 1.9 times its investment in the company.

The private equity group backed a £3m management buyout of the business in 2010. Monsal struggled during the downturn due to the cyclical nature of its business and the lack of interest from infrastructure funds who slimmed the size of their investments during the recession.

As such Mobeus plugged a further £1m into the business in 2010 to steer the company through a difficult period and the following year Hong Kong based infrastructure fund FourWinds Capital Management invested a further £3m into the business.

Monsal made over £10m of revenues in 2013.

“GE’s global expertise and reach in the municipal and industrial water treatment industry is world class and is very complimentary to Monsal’s advanced digestion capabilities and our overall strategy for international expansion. Aidan Cumiskey, Managing Director of Monsal, said.

“Joining the GE family will allow Monsal to bring our technologies to a significantly broader audience as well as give us R&D capabilities at a much larger scale than we have now. We expect to expand our product and technology range with the GE resource, so that we become the “Go To” company globally for anaerobic digestion."

Altium advised Monsal on the transaction.

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