MBH Corporation Plc
MBH CORPORATION PLC CONTINUES GROWTH WITH 12TH ACQUISITION OF 2020 BY TAKING ON VICTORIA GOSDEN TRAVEL
DGAP-News: MBH Corporation Plc
/ Key word(s): Investment
MBH CORPORATION PLC CONTINUES GROWTH WITH 12TH ACQUISITION OF 2020 BY TAKING ON VICTORIA GOSDEN TRAVEL MBH’s considerable acquisition drive continues with the announcement of the acquisition of VGT who become the 22nd company within the MBH portfolio and their 12th acquisition of 2020. VGT is a well established taxi and licensed private hire operator covering the Waverly, Hart and Rushmoor areas of the South-East of the UK and has been operating since 2002. That year, it launched with just one car working exclusively on home to school contracts for Hampshire and Surrey county council. Over its 18 years VGT has acquired a number of other taxi firms to grow into a 100 vehicle fleet covering most aspects of passenger transport. VGT has a highly experienced leadership team, a trait it shares with all other MBH acquisitions. Gary Marshall, the MD of VGT, boasts over 30 years of experience in the taxi industry and 16 years as a software supplier to the taxi industry. For the financial year 2020 VGT’s audited EBIT was GBP 278,545 and it has assets of GBP 1.18M. The total consideration for the acquisition of VGT is approximately GBP1.3m to GBP2m of which majority will be settled by way of a listed bond in accordance with the MBH bond programme with the following terms:
Gary Marshall, Managing Director, VGT, said: ‘This is a fantastic opportunity for us. We have spent the last 7 years growing VGT to a 100 car fleet. Joining with MBH has allowed us to release equity in the business, remain in control of the company and remove the limiting factors allowing us to grow the business further. David Hunter, CEO, ADT (Take Me (Group) Ltd), said: ‘We are delighted to bring in Gary Marshall and his lovely wife Sam to the MBH Taxi network as we build the TAKE ME taxi network across the UK. In a hugely challenging year for our industry we’ve been able to build our company and brand by diversifying into food deliveries, building an exceptional app and through growth of school and NHS contracts. Callum Laing, CEO, MBH Corporation plc, commented: ‘This has been an incredibly productive year for us as a Group. VGT joining our other company ADT in the transport vertical is incredibly exciting and gives us a good footing to expand the fleet further in 2021. VGT has been a reliable and well respected business for nearly 2 decades and it will be great to have Gary joining our team.’
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14.12.2020 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: | 1154975 |
End of News | DGAP News Service |