MBH Corporation acquires Approved Air
London-based MBH Corporation, a diversified investment holding company, is acquiring medical testing firm Approved Air for approximately £2.7 million to £3.4 million which will be settled by way of a listed bond in accordance with the MBH bond programme with a five-year maturity with the principal payable at maturity and a 5% coupon rate per annum payable semi-annually.
Established by David Williams in 1998 as DWCS in Somerset, and becoming Approved Air in 2010, the company provides validation and verification testing of medical facilities to ensure compliance with health technical memorandums, and as independent specialists gives objective assessments and offers improvement plans to keep patients and staff safe.
Specific services include particle counting, duct dust sampling, CO and CO2 monitoring, active air sampling, and temperature and humidity testing, among other essential services. Approved Air will become part of MBH’s engineering vertical business line.
Williams said: “Becoming part of MBH and a PLC is a logical and exciting next move for us. We are operating in an important area that has had further light thrown on it from the ongoing global pandemic situation. Becoming part of the MBH Corporation should allow us to be even more successful in winning important contracts with healthcare establishments”.
Callum Laing, chief executive of MBH Corporation, commented: “Not only am I pleased to welcome such a successful company as Approved Air to the MBH Corporation, but it’s also particularly satisfying to welcome a company that is involved in such important work to support healthcare establishments across the UK. David and Caroline Williams and their team have an exciting future ahead.”
The MBH Corporation portfolio now stands at 27 companies across eight industry sectors and five countries.