MBH Corporation Plc

  • ISIN: GB00BF1GH114
  • Land: Großbritannien

Nachricht vom 18.10.2019 | 07:05

MBH Corporation expands its Construction Services portfolio with acquisition of UK refurbishment specialist Gaysha Ltd

MBH Corporation Plc / Key word(s): Investment
MBH Corporation expands its Construction Services portfolio with acquisition of UK refurbishment specialist Gaysha Ltd

18-Oct-2019 / 07:05 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 expands its Construction Services portfolio with acquisition of UK refurbishment specialist Gaysha Ltd

London, 18th October 2019 - MBH Corporation plc ("MBH") has completed the acquisition of Gaysha Ltd ("Gaysha"). The company is based in the UK and is the fourth wholly owned subsidiary of the Construction Services vertical within MBH - a diversified investment holding company. In the financial year ended 28 February 2019, Gaysha generated revenues of GBP 9.1 million and GBP 0.46 million in EBITDA.

Gaysha is a family managed business, founded in 1997 by Ian Elsey - now its Chief Executive. The company is a specialist fit out and refurbishment contractor, undertaking both external and internal building works, roofing and internal refurbishments to listed and non-listed buildings - primarily in Central London.

Coupled with the existing subsidiaries within the Construction vertical of MBH - Cape Ltd, du Boulay Contracts Ltd and Guildprime Specialists Contracts Ltd - Gaysha compliments and expands on the group's already existing construction services business.

MBH has acquired 100% of Gaysha Ltd following the successful execution of legal contracts. In line with MBH's Agglomeration strategy, this acquisition is expected to be earnings per share ("EPS") accretive. MBH will create 1.9 million shares to acquire 100% of Gaysha Ltd priced at EUR 1.47 per share.

MBH expects that the total number of MBH shares issued after completion of this acquisition will be between the range of 60 million and 65 million shares. This is subject to the finalisation of the audits for Asia Pacific Energy Ventures Pte Ltd and Guildprime Specialist Contracts Ltd, and completion of the acquisition of Samuel Hobson House.

Information and Explanation of the Issuer to this News:

Additional Information

Callum Laing, Non-Executive Chairman of MBH Corporation plc - 'Gaysha is an established and very successful family-run business and an organisation that is well-aligned to become part of the MBH Corporation and for us to build a long-term relationship with. As well as the financial benefits that are associated with acquiring Gaysha, we are also excited about the depth of industry knowledge and experience that the Elsey family brings to the construction vertical that is a strategic part of our business mix.'

Ian Elsey, Chief Executive, Gaysha Ltd - 'The agglomeration model is an exciting opportunity for Gaysha, providing us with an excellent foundation for continued growth. We are looking forward to collaborating with like-minded entrepreneurs and business owners who have embarked upon a similar journey, where we are able to share ideas and best practice. Joining MBH gives us the financial discipline associated with being part of a listed company whilst allowing us to maintain full operational control. We look forward to working with our fellow founders and the MBH team in delivering our shared goal of creating shareholder value.'

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, charlotte@unity-group.com, +44 (0)770 396 3953

Kirchhoff Consult AG, Nicole Schüttforth, nicole.schuettforth@kirchhoff.de, +49 (0)40 609186 64

18-Oct-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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