MBH Corporation Plc
MBH COMMITS FURTHER TO EDUCATION WITH 11TH ACQUISITION OF 2020 AS FAST GROWING ACADEMY ONE GROUP JOINS PORTFOLIO
DGAP-News: MBH Corporation Plc
/ Key word(s): Investment
MBH COMMITS FURTHER TO EDUCATION WITH 11TH ACQUISITION OF 2020 AS FAST GROWING ACADEMY ONE GROUP JOINS PORTFOLIO
MBH today grows its largest vertical yet further with the 100% acquisition of Academy One Group, MBH’s 11th acquisition for the year so far. Academy One Group is a well recognised training organisation with a primary focus on sports education programmes in partnership with colleges, professional and semi professional football clubs. They also have deep expertise in Traineeship programmes in sports coaching and Apprenticeships in a wide variety of sport, business and health pathways. Academy One started 7 years ago with just 25 students and has now grown to over 750 students across its extensive range of programmes. With the UK being one of Europe’s largest national fitness markets boasting total annual revenues of over EUR 5.5billion[1] the stage is set for further future growth for Academy One Group. For the year ending 31 March 2020 Academy One Group generated revenues of GBP 3.7m. With this acquisition, the pro-forma revenues of the MBH portfolio companies grow to GBP102m for the financial year 2020. The estimated earnings per share growth as a result of this acquisition is approximately 1.1%. The estimated total consideration for the acquisition is approximately GBP2.0m to GBP 3.0m. The consideration will be finalised once the 31 December 2020 audit has been completed. The majority of the consideration will be paid fully 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:
Callum Laing, CEO MBH Corporation plc, commented: “Education forms a significant part of our portfolio and Academy One represents the best of the sector, innovative, future facing and highly ambitious to grow. We’re delighted to welcome Paul and his team to the group and can see huge opportunities for collaboration and knowledge sharing. The depth of their expertise in the sports and physical activity market will be a hugely valuable asset to us.” Paul Vaughan, Managing Director Academy One Group, said: “We have extensive plans for our future and have already shown a clear ability to grow our business at pace. Joining the MBH group represents a major step for us and the resources and skills within the group that we can call on will allow us to accelerate our growth at the rate we know we are capable of.” Notes to Editors [1] https://www.statista.com/statistics/1044273/fitness-market-revenue-uk/ About Academy 1 Group Ltd Academy One is a training organisation focused primarily on sports education programmes based at a variety of centres throughout London and in partnership with colleges, professional and semi-professional football clubs in the United Kingdom. Academy One also runs Traineeship programmes in sports coaching and Apprenticeships in a variety of sport, business and health pathways. The Academy One Group consists of the following companies: Academy 1 Group Ltd; Academy 1 Sports College East Ltd; Academy 1 Sports Management Ltd; and Academy 1 Sports Ltd. www.academy1sports.com
26.11.2020 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
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 |
EQS News ID: | 1150780 |
End of News | DGAP News Service |