from MBH Corporation Plc (isin : GB00BF1GH114)
EQS-Adhoc: MBH CORPORATION PLC EXPANDS ITS LEISURE VERTICAL WITH THE ACQUISITION OF WHITE ARCHES CARAVANS AND WHITE ARCHES MOTORHOMES
EQS-Ad-hoc: MBH Corporation Plc / Key word(s): Acquisition
MBH CORPORATION PLC EXPANDS ITS LEISURE VERTICAL WITH THE ACQUISITION OF WHITE ARCHES CARAVANS AND WHITE ARCHES MOTORHOMES
15-May-2023 / 11:44 GMT/BST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
London, 15 May 2023, MBH Corporation plc (MBH), a diversified investment holding company, has today announced the completion for the acquisition of White Arches Caravans and White Arches Motorhomes - expanding further the company’s Leisure Vertical business line. White Arches becomes one of 20 companies within the MBH Corporation and along with Robinsons Caravans, which joined MBH in March 2020, will become an important part of the company’s fast-growing Leisure Vertical - one of 7 vertical business lines spanning 5 countries.
White Arches, a business established 46 years ago, operates two businesses; White Arches Caravans based in Rushden and White Arches Motorhomes based in Wellingborough – both in Northamptonshire region in the UK. White Arches Caravans specialise in new and used caravans and is the region’s premier dealer for Swift caravans, Bailey caravans, Coachman caravans, Sprite caravans and the Swift Archway range of caravans. White Arches Motorhomes is the region’s premier dealer for Adria motorhomes, Bailey motorhomes, Auto-Trail motorhomes as well as VW Campers.
Paul Seabridge, CEO of Robinsons Caravans and the MBH Corporation Leisure Vertical, will oversee the integration of White Arches into MBH and will manage the business going forward.
White Arches unaudited revenue for year ended 30 September 2022 was £25.1m. The purchase consideration is estimated to be approximately between £7m to £8m in cash subject to finalisation of completion accounts. The deal will be funded partly through debt financing of £4m (payable on completion) and deferred consideration of £3-4m, which is payable over a 3 year period.
More information regarding the acquisition can be found here:
https://www.mbhcorporation.com/white-arches-acquisition
End of Inside Information
Information and Explanation of the Issuer to this announcement:
Victoria Sylvester, CEO, MBH Corporation commented 'The caravan and motorhome sector continues to be fragmented. With White Arches joining Robinsons Caravans within the MBH Leisure Vertical, the MBH offering within the caravan and motorhome sector becomes even stronger - with many synergies and best practices to be shared. Our objective remains to become the number one caravans and motorhome group in the UK providing an excellent experience for customers and for our own employees”
Paul Seabridge, CEO, Robinsons Caravans, commented : 'With the continued interest in owning caravans and motorhomes in the UK, we feel that the timing is right for White Arches to become part of a larger group that already has extensive experience in this sector. The MBH agglomeration model allows us to continue to grow the White Arches business organically, whilst collaborating and networking with experienced business leaders across a whole range of sectors within the group, both in the UK and internationally. The opportunities for further growth are exciting.”
About MBH Corporation
MBH Corporation plc (M8H:GR) is a diversified investment holding company, listed on the Frankfurt and Dusseldorf Stock Exchanges and the Aquis Exchange in London. 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 and accretive acquisition of excellent companies.
mbhcorporation.com
About White Arches
White Arches operates two businesses; White Arches Caravans based in Rushen and White Arches Motorhomes based in Wellingborough – both in Northamptonshire. White Arches Caravans specialise in new and used Caravans and is the region’s premier dealer for Swift caravans, Bailey caravans, Coachman caravans, Sprite caravans and the Swift Archway range of caravans. White Arches Motorhomes is the region’s premier dealer for Adria motorhomes, Bailey motorhomes, Auto-Trail motorhomes and VW Campers.
White-arches.co.uk
For IR and media enquiries:
MBH Corporation
Charlotte Fordham
charlotte.fordham@mbhcorporation.com
+44 (0) 770 396 3953
Corporate Adviser
First Sentinel Corporate Finance Limited
Brian Stockbridge
brian@first-sentinel.com+44 (0) 7876 888 011
15-May-2023 GMT/BST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| Language: | English |
| Company: | MBH Corporation Plc |
| Studio 7-9, Royal Patriotic Victoria Building, Joh | |
| SW18 3SX London | |
| United Kingdom | |
| E-mail: | info@mbhcorporation.com |
| Internet: | https://www.mbhcorporation.com/ |
| ISIN: | GB00BF1GH114 |
| WKN: | A2JDGJ |
| Listed: | Regulated Unofficial Market in Dusseldorf, Frankfurt |
| EQS News ID: | 1630967 |
| End of Announcement | EQS News Service |
1630967 15-May-2023 GMT/BST