MBH : CONTINUES ACQUISITION DRIVE WITH FURTHER EXPANSION OF ITS EDUCATION VERTICAL
November 09, 2020 at 08:08 am EST
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DGAP-News: MBH Corporation Plc
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MBH CORPORATION PLC CONTINUES ACQUISITION DRIVE WITH FURTHER EXPANSION OF ITS EDUCATION VERTICAL
09.11.2020 / 14:08
The issuer is solely responsible for the content of this announcement.
MBH CORPORATION PLC CONTINUES ACQUISITION DRIVE WITH FURTHER EXPANSION OF ITS EDUCATION VERTICAL
London, 9 November 2020 - MBH Corporation plc (MBH), a diversified investment holding company, today has announced the latest stage in its growth strategy for 2020 with the acquisition of NVQ Nail & Beauty Specialists Training Academy Ltd ("NVQ").
NVQ is a specialist in providing a range of beauty training courses with courses accredited by the leading specialist awarding and assessment organisation that develops world-class
vocational and technical qualifications in a range of service sectors, the Vocational Training Charitable Trust (VTCT). This latest expansion of MBH's growing portfolio consists of a 100% acquisition.
Within MBH's Education vertical, NVQ will reside under Acacia Training Limited as a tactical acquisition to help further boost their expansion plans, following their first global acquisition of Learning Wings in Singapore in June 2020.
This acquisition is the latest example of MBH acquiring a stable and set business as NVQ has been in operation for 16 years as part of a sector that has seen recent significant growth, with a 45% increase in hairdressing, barbering and beauty shops opening over the last 5 years in the UK.[1]
For the year ending 31 March 2020 NVQ generated revenues of GBP0.3M. The estimated total consideration for the acquisition is approximately GBP0.6m. The consideration will be finalised once the 31 March 2020 audit has been completed. With this acquisition, the pro-forma revenues of the MBH portfolio companies grow to GBP98.5m for the financial year 2020.
Convertible notes will be used to settle the purchase consideration. At the date of conversion, the convertible note will convert into MBH shares at the lower of the 30-day volume weighted price preceding the conversion date (i.e. 12 months post completion date) or EUR0.80c per share.
Victoria Sylvester, Managing Director, Acacia Training Limited commented: "NVQ is a fantastic business and we are delighted they will be joining the Group as part of our tactical acquisition strategy. We can see clear opportunities for us to learn from each other as we look to further grow our business footprint within the education sector."
Callum Laing, CEO of MBH Corporation plc commented: "This is the latest step in the expansion of our education vertical which has long been a big part of our plans as we move forward. The depth of experience and knowledge within NVQ will serve the wider MBH portfolio incredibly well as we continue to collaborate as a group during this extraordinary year."
Amanda Sumner, Founder of NVQ: "I am thrilled that NVQ Nails & Beauty is now part of the MBH family. We are really excited to be part of the Group and about the future working in collaboration with Acacia Training and other companies in the Group to build on our existing and future opportunities to continue to grow the business."
About NVQ Nail and Beauty Specialists Training Academy Ltd
NVQ Nail & Beauty Specialists Training Academy Ltd ("NVQ") was established on 4 March 2016. However, the business has been in operation since 2004 as Klass Academy. The company specialises in providing various beauty training courses and all funding course are accredited by Vocational Training Charitable Trust ("VTCT").
https://klasstrainingacademy.co.uk/
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.
www.mbhcorporation.com
Contacts for IR and media enquiries:
MBH Corporation plc, Charlotte Williams, charlotte@unity-group.com, +44 (0)770 396 3953
Perception A, Phil Anderson & Charlie Nelson, phil@perceptiona.com, +44 (0)776 749 1519
09.11.2020 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
Internet:
https://www.mbhcorporation.com/
ISIN:
GB00BF1GH114
WKN:
A2JDGJ
Listed:
Regulated Unofficial Market in Dusseldorf, Frankfurt
MBH Corporation plc is a United Kingdom-based investment holding company. The Company is focused on acquiring small-to-medium enterprises in different sectors. The Company operates through three segments: Education, Construction Services, and Leisure. The Education segment is engaged in the provision of education and learning related services for apprentices. The Construction Services segment includes commercial interior fit-out and construction contractor services. The Leisure segment includes the sale of new and pre-owned touring caravans and related caravan accessories and awnings. Its other operations include the provision of care services and residential elderly-care, food and beverage, engineering services, transportation services including taxis and licensed private hire operators and property services including state brokerage, commercial funding company, and others. Its primary geographical location includes the United Kingdom, Oceania, Asia, Canada, and North America.
MBH CORPORATION PLC 
