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15.05.2023 12:46:32
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MBH CORPORATION PLC EXPANDS ITS LEISURE VERTICAL WITH THE ACQUISITION OF WHITE ARCHES CARAVANS AND WHITE ARCHES MOTORHOMES
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MBH Corporation Plc (M8H)
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 companys 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 companys 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 regions premier dealer for Swift caravans, Bailey caravans, Coachman caravans, Sprite caravans and the Swift Archway range of caravans. White Arches Motorhomes is the regions 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 Information and Explanation of the Issuer to this News: 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 regions premier dealer for Swift caravans, Bailey caravans, Coachman caravans, Sprite caravans and the Swift Archway range of caravans. White Arches Motorhomes is the regions 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 Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
| ISIN: | GB00BF1GH114 |
| Category Code: | ACQ |
| TIDM: | M8H |
| LEI Code: | 213800NXJ8SAXU8GBY43 |
| Sequence No.: | 243806 |
| EQS News ID: | 1633271 |
| End of Announcement | EQS News Service |
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