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MBH CORPORATION PLC ACQUIRES APPROVED AIR LTD IN THE UK
DGAP-News: MBH Corporation Plc / Key word(s): Acquisition MBH CORPORATION PLC ACQUIRES APPROVED AIR LTD IN THE UK |
Acquisition expected to add a further GBP1.7m in revenue and GBP430k in EBIT to the Group each year whilst strengthening the Engineering vertical.
London, 5 November 2021, MBH Corporation plc (MBH), a diversified investment holding company, has today announced it has agreed to the terms for the acquisition of Approved Air Ltd in the UK, as the most recent step in its extensive acquisition drive. Subject to regulatory approval, Approved Air will be part of MBH's Engineering vertical business line.
With this acquisition and the continued diversification of companies becoming part of the MBH Corporation, the MBH portfolio now stands at 27 companies across 8 industry sectors and five countries.
Established by David Williams in 1998 as DWCS in Somerset, UK, and becoming Approved Air in 2010, the company provides high quality validation/verification testing of medical facilities to ensure compliance with Health Technical Memorandums [HTM's] and as independent specialists gives objective assessments and supports with improvement plans to keep both patients and staff safe. Specific services include particle counting, duct dust sampling, CO & CO2 monitoring, active air sampling and temperature & humidity testing amongst other essential services.
Within healthcare establishments, with the life expectancy of buildings and equipment forever being extended, there is a need for more robust monitoring and management of systems and processes to keep patients and staff safe. Having partnered with several NHS Trusts over many years, Advanced Air delivers a safe and efficient service with the flexibility required within an NHS Trust environment.
Approved Air's unaudited revenues for full year 2021 were GBP1.7m. The total consideration for the acquisition of Approved Air will be approximately GBP2.7m to GBP3.4m which will be settled by way of a listed bond in accordance with the MBH bond programme with the following terms: