London-based investment holding company MBH Corporation has acquired Academy 1 Group, a training organisation with a primary focus on sports education programmes in partnership with colleges, professional and semi-professional football clubs. It also offers traineeship programmes in sports coaching and apprenticeships in a variety of sport, business and health pathways.
The estimated total consideration for the acquisition is approximately £2-3 million and will be finalised once the year-end audit has been completed. The majority of the consideration is payable in unlisted bonds in MBH Corporation and will convert to listed bonds upon completion.
Academy 1 started up seven years ago with 25 students and today teaches more than 750 students across a range of programmes. It is headquartered in Laindon, Essex.
For the year ending 31 March 2020, Academy 1 Group generated revenue of £3.7 million. With this acquisition, the pro-forma revenues of MBH’s portfolio companies grows to £102 million for the 2020 financial year. This is MBHs 11th acquisition this year and brings its education vertical to a total of 10 companies.
Paul Vaughan, managing director Academy 1 Group, said: “We have extensive plans for our future and have already shown a clear ability to grow our business at pace. Joining the MBH group represents a major step for us and the resources and skills within the group that we can call on will allow us to accelerate our growth at the rate we know we are capable of.”
MBH Corporation chief executive Callum Laing added: “Education forms a significant part of our portfolio and Academy 1 represents the best of the sector – innovative, future-facing and highly ambitious to grow. We’re delighted to welcome Paul and his team to the group and can see huge opportunities for collaboration and knowledge sharing. The depth of their expertise in the sports and physical activity market will be a hugely valuable asset to us.”
Date published: 30 November 2020