MBH : acquires KS Training Ltd, further expanding its education services portfolio
November 11, 2019 at 01:30 am EST
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DGAP-Ad-hoc: MBH Corporation Plc / Key word(s): Investment
MBH Corporation acquires KS Training Ltd, further expanding its education services portfolio
11-Nov-2019 / 07:25 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
MBH Corporation acquires KS Training Ltd, further expanding its education services portfolio
UK training provider, KS Training Ltd, to become part of MBH effective immediately.
London, 11th November 2019 - MBH Corporation plc ("MBH"), a diversified investment holding company, has successfully completed the acquisition of KS Training Ltd ("KS Training"). Formed in 2012 by Kieran Smythe, now its Chief Executive, KS Training offers employers a wide range of training courses across diverse industry sectors; with comprehensive training programmes for care home and agency care staff designed to ensure employees continually develop. KS Training has reached and passed the key milestones in an independent training providers evolution, gaining contracts to deliver major funded national programmes and contracting directly with the UK's Education & Skills Funding Agency (ESFA).
In the financial year ended 31 May 2019, KS Training generated revenues of GBP488,618 and EBITDA of GBP104,843. MBH has acquired 100% of KS Training Ltd following the successful execution of legal contracts today. KS Training Ltd is a tactical acquisition to enhance the service offerings of Acacia Training Ltd within the education vertical of MBH.
In line with MBH's established Agglomeration strategy, this acquisition is expected to be earnings per share ("EPS") accretive. MBH will expect to create approximately 430,000 shares to acquire 100% of KS Training Ltd priced at EUR 1.47 per share. Share issuance will be subject to receiving audited accounts, and expected to be issued by the middle of December 2019.
MBH expects that the total number of MBH shares issued after completion of this acquisition will be between the range of 60.8 million and 65.8 million shares. This is subject to the finalisation of the audits for KS Training Ltd, UK Sports Training Ltd, Asia Pacific Energy Ventures Pte Ltd and Guildprime Specialist Contracts Ltd, and the completion of the acquisition of Samuel Hobson House.
Information and Explanation of the Issuer to this News:
Callum Laing, CEO of MBH Corporation plc - 'We are looking forward to having KS Training join the MBH team and uniting with Acacia Training. Similar to our recent acquisition of UK Sports Training, the company adds immediate value to the group and expands the service offering of the education vertical. KS Training has a clear vision to grow their business and MBH will partner closely with them to support their strategies.'
Kieran Smythe, CEO of KS Training Ltd - 'Being part of MBH will allow KS Training to benefit from the resources of a large PLC providing the financial support to secure more clients, who as large employers have to pay the UK apprenticeship levy. In addition, the loan funded market represents a tremendous opportunity for training providers who are committed to delivering a quality learning experience and can commit for the long term. Being part of MBH will facilitate both of these lines of development.'
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.
11-Nov-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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 
