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DGAP-Ad-hoc: MBH Corporation Plc / Key word(s): Investment
MBH ACQUIRES AUSTRALIAN COBUL CONSTRUCTIONS FOR ITS CONSTRUCTION VERTICAL
30-Oct-2020 / 09:47 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 ACQUIRES AUSTRALIAN COBUL CONSTRUCTIONS FOR ITS CONSTRUCTION VERTICAL
London, 30 October 2020 - MBH Corporation plc (MBH) acquires 100% of Cobul Constructions (C&B Pty Ltd) for its construction vertical, thereby acquiring its first Australian company. With this acquisition, MBH is strengthening its construction segment and is expanding its geographical reach. This is the ninth acquisition in 2020.
Over the past few years, Cobul Constructions has boasted an average yearly turnover of approximately AUD11.6m and in the 12 months to 30 September 2020, its unaudited EBIT was AUD2.7m. With this latest acquisition the pro-forma revenues of MBH grow to GBP98m in the financial year 2020. The estimated earnings per share growth as a result of this acquisition is approximately 18%.
Cobul's clients include the National Government, National Library of Australia and the Canberra Theater Centre.
The total consideration for the acquisition of Cobul Constructions is approximately GBP5m to GBP8m of which will be settled by way of a listed bond in accordance with the MBH bond programme with the following terms:
- 5-year maturity with principal payable at maturity; and
- 5% coupon rate per annum payable semi-annually
Contacts for IR and media enquiries:
MBH Corporation plc, Charlotte Williams, charlotte.fordham@mbhcorporation.com, +44 (0)770 396 3953
Kirchhoff Consult AG, Anika Heske, anika.heske@kirchhoff.de, +49 (0)40 609186 39
Information and Explanation of the Issuer to this News:
About Cobul Constructions
C&B Pty Ltd trades as Cobul Constructions ('Cobul').The company was established in 2001 in Australia. They are primarily based in Canberra, ACT.
Cobul specialises in commercial building projects for the government and private sectors. The company has grown to become an industry leader, known for their ability in complex construction projects and for their meticulous attitude to final quality and finish of the projects. Their client mix is centred around government contracts and their key services are project management, Construction Management, Lump Sum Contracting, Fits outs and refurbishment.
https://www.cobulconstructions.com.au
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 bfd 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.
www.mbhcorporation.com
30-Oct-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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