DGAP-News: MBH Corporation Plc / Key word(s): Investment

02.09.2020 / 08:15
The issuer is solely responsible for the content of this announcement.


2 September 2020, London - MBH Corporation plc (MBH), a diversified investment holding company, continues its agglomeration strategy with its 6th and 7th acquisition 2020. The EPS accretive 100% acquisitions of the US based companies 'Meeting of the Minds' (MOTM) and 'Everyday Realty Services' (ERS) bring MBH's portfolio to a total of 17 companies, and at the same time establish a new property vertical for the group.

Meeting of the Minds was established 12 years ago and has grown to become the largest real estate investor association and investor mentoring programme in New York. Everyday Realty Services, a real estate brokerage and commercial funding company, trades under the Exit Realty franchise and Everyday Funding brands.

For the year ended 31 December 2019, MOTM and ERS generated unaudited consolidated revenues of USD 1.23m and an EBIT of USD 0.63m. This latest acquisition takes the pro-forma revenues of the MBH Group portfolio companies up to GBP 85.5m based on its financial year 2019 results.

The total consideration for the two companies is estimated to be between USD 2.9m to 3.5m. The majority of the consideration will be paid in unlisted bonds in MBH Corporation plc and would convert to listed bonds upon completion of audited accounts. The terms of the listed and unlisted bonds are as follows:

  • 5 year terms and principal payable on maturity
  • 5% interest per annum payable semi-annually

Both entities are headed by CEO Melissa J. Shea. She has been a real estate investor and business owner since 2005 and in that time has led over 500 renovation projects and brokered over USD 100m in real estate transactions. Additionally, Melissa has mentored over 150 investors and is director of not for profit 'clear the way supportive housing', helping to provide emergency shelters and affordable housing especially for abused victims of domestic violence and those with disabilities.

Melissa Shea, CEO, Meeting of the Minds and Everyday Realty, said: "The opportunity to join MBH as their first US companies is hugely exciting for us and I am also looking forward to heading up the new property vertical for the group. Our companies, Meeting of the Minds and Everyday Realty Services, believe in empowering and educating families to gain financial independence through real estate. I have always enjoyed how real estate has a positive impact on the lives of families and I can see how MBH's agglomeration model shares the same values and can change the lives of business owners and their families. We are now looking forward to the future with MBH and having other US companies be a part of the agglomeration model."

Callum Laing, CEO, MBH Corporation Plc, commented: "These two companies are strongly established in their fields and represent exciting growth businesses in the highly competitive US Real Estate market. We look forward to working with Melissa and her team who are very aligned with the MBH values of Trust, Collaboration and Velocity. We certainly embrace their ambition to grow through acquisition in this pivotal moment in the economy and they have an exciting pipeline already identified. In addition, back in Europe, we welcome Stan Patey as non-executive to the Board of MBH."

About Meeting of the Minds Inc & Everyday Realty Services Inc

Established in 2008, MOTM is a networking and educational company which carries out events and Real Estate ("RE") mentoring services under the LIREIA (for networking) and Mentoring Masterminds (for education) brands. LIREIA stands for Long Island Real Estate Investment Association; it is a local affiliate of the National REIA, a non-profit trade association in the RE sector. There are two types of memberships with the National REIA - affiliates and chapters. Affiliates are for members who desire to be a chapter but are not ready to meet the requirements.
http://mentoringmasterminds.com/ | https://www.lireia.com/

ERS is a RE brokerage and commercial funding company. It is a spin-off from MOTM; due to licensing issues, the businesses have to be held in different entities. ERS trades under the EXIT Realty Everyday (for RE brokerage) and Everyday Funding Services (for commercial funding related to RE) brands. ERS holds the EXIT Realty franchise for the Long Island region of New York. EXIT Realty was founded in 1996 and specializes in services related to RE in the USA. ERS is in the process of purchasing a franchise Brokerage Exit Realty which they expect to grow from 5 producing agents to over 50. The company's income comes from Commissions, Short sale negotiation fees, points from lending and fees.

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 bfd 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 and accretive acquisition of excellent companies.

Contacts for IR and media enquiries:
MBH Corporation plc, Charlotte Williams, charlotte@unity-group.com, +44 (0)770 396 3953
Kirchhoff Consult AG, Anika Heske, anika.heske@kirchhoff.de, +49 (0)40 609186 39

02.09.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: MBH Corporation Plc
Studio 7-9, Royal Patriotic Victoria Building, Joh
SW18 3SX London
United Kingdom
E-mail: fo@mbhcorporation.com
Listed: Regulated Unofficial Market in Dusseldorf, Frankfurt
EQS News ID: 1126399

End of News DGAP News Service

1126399  02.09.2020