Mobeus first backed AUG in 2024, investing £8.4 million in a management buyout of the business, with a further £3 million of senior debt provided by Triple Point. Under Mobeus’s ownership, AUG expanded into multiple new markets in mainland Europe, appointed a sector specialist chairman, and completed at least one bolt-on acquisition, a buy-and-build approach that has become common among private equity owners of UK specialty insurance distributors.