DGAP-Adhoc: MBH Corporation acquires UK Sports Training Ltd expanding its education services portfolio
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DGAP-Ad-hoc: MBH Corporation Plc / Key word(s): Takeover MBH Corporation acquires UK Sports Training Ltd expanding its education services portfolio
London, 30th October 2019 - MBH Corporation plc ("MBH"), a diversified investment holding company, has successfully completed the acquisition of UK Sports Training Ltd - a UK based independent learning provider, founded in 2012 and currently delivering qualifications in personal training & sports massage. The company will become a wholly owned subsidiary of the Education Services vertical within MBH. In the financial year ended 31 July 2019, UK Sports generated revenues of GBP 339,516 and EBITDA of GBP 80,318. MBH has acquired 100% of UK Sports Training Ltd following the successful execution of legal contracts today. Coupled with the existing education subsidiaries within the Education Services vertical of MBH - Parenta Group, Acacia Training Limited, International School of Beauty Therapy and, most recently, Samuel Hobson Homes - UK Sports expands on the group's existing vocational training services into the sports sector. In line with MBH's established Agglomeration strategy, this acquisition is expected to be earnings per share ("EPS") accretive. MBH will expect to create 400,000 shares to acquire 100% of UK Sports Training Ltd priced at EUR 1.47 per share. Share issuance will be subject to receiving audited accounts, and expected to be issued by December 2019. UK Sports Training was founded in June 2012 by Ben Tomlin as a training provider, offering one-day first aid & fire safety courses from its home base in Essex in the UK. UK Sports Training now has two fixed sites in the UK and recently opened a venue in London Bridge. The company has also been offering Level 3 Sports Massage Therapy qualifications as a progression route for learners, enabling further career options for both employed and self-employed opportunities. MBH expects that the total number of MBH shares issued after completion of this acquisition will be between the range of 60.4 million and 65.4 million shares. This is subject to the finalisation of the audits for UK Sports Training Ltd, Asia Pacific Energy Ventures Pte Ltd and Guildprime Specialist Contracts Ltd, and to the completion of the acquisition of Samuel Hobson House. Information and Explanation of the Issuer to this News: Additional Information Callum Laing, CEO of MBH Corporation plc - 'We are thrilled to have UK Sports join the MBH team. Ben has built a great company with a first-class service offering, and by partnering with Acacia Training and adopting the agglomeration ethos of collaborative working to maximise potential, the company adds immediate value. With their clear vision for growth, UK Sports has an exciting future ahead.' Ben Tomlin, Managing Director, UK Sports Training Ltd - 'UK Sports Training Ltd is delighted to be joining MBH, where we feel we can now fulfil our potential with the support and infrastructure of the group, whilst keeping our individual identity and brand strength within our exciting and fast-growing industry sector. UK Sports Training are motivated to grow in an ever-evolving industry. The fitness sector has a significant influence on peoples' well-being and is proven it can have a positive impact for both physical and mental health. Even though the industry is already well established, it is merely touching the surface of its potential as technological enhancements, wider audiences from a younger age and an increasing awareness of health & fitness in older generations are all producing an upward trend in participants at gyms, health clubs, private fitness studios and training from home with remote support. It is in these areas that we expect UK Sports to develop further, with the support and resources of MBH.' About MBH MBH Corporation plc is a diversified investment holding company, listed on the Frankfurt and Dusseldorf Stock Exchanges. The company acquires small to medium enterprises across multiple geographies and sectors that are well established, profitable and looking to scale. By leveraging the Agglomeration strategy, MBH Corporation plc is able to create substantial shareholder value through the consistent, accretive acquisition of excellent companies. Contacts for IR and media enquiries: MBH Corporation plc, Charlotte Williams, [email protected], +44 (0)770 396 3953 Kirchhoff Consult AG, Nicole Schüttforth, [email protected], +49 (0)40 609186 64
30-Oct-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | MBH Corporation Plc |
| Studio 7-9, Royal Patriotic Victoria Building, Joh | |
| SW18 3SX London | |
| United Kingdom | |
| E-mail: | [email protected] |
| Internet: | https://www.mbhcorporation.com/ |
| ISIN: | GB00BF1GH114 |
| WKN: | A2JDGJ |
| Listed: | Regulated Unofficial Market in Dusseldorf, Frankfurt |
| EQS News ID: | 899565 |
| End of Announcement | DGAP News Service |
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899565 30-Oct-2019 CET/CEST
